Credit card transfer question...

[BigPotato]

I have 3 credit cards - i want to consolidate them into one card, so i can just pay that one card off completely....

should i apply for a new credit card to get this? or should I transfer it to one of my existing cards?

Also, what kind of specific rates should i look for? I'm a credit card newbie when it comes to this.

any tips u guys can give me?

thanks!

 

[ggavinmoss]

You can call and get a new one, with a good intro balance transfer APR (these days it's as good as 0% for 12 months). But beware high rates after the nice, low intro rate.

You might want to avoid the hassle of doing that and call your current credit card companies. Tell them you're looking to consolidate and what other cards are offering. Some would rather get less money from you than NO money for you.

Good luck!

-geoff
(currently doing what you are thinking of doing)

 

[Mister T]

need more info bud.

What is your balance, limit, and APR % on each card?

Assuming you have room left on a card, call up the credit card company and ask them for balance transfer specials.

I did this last week and I was quoted 4.9% for 9 months or 6.9% for the life of the balance.