Q on smaller CC balances

iVillage Member
Registered: 12-12-2004
Q on smaller CC balances
3
Sun, 07-06-2008 - 12:04pm

Hi everyone. Q on smaller CC balances. There are a few CC balances with DH (i.e., $1000 here, $250 there, etc) that have insane interest rates. Yes, we are looking at rolling those over, but I was wondering. The credit limits are so small on those (good thing, eh)---is that the reason they are charging 11-21% interest on those? Or, is it because those are "newer" CC's that DH has, maybe a few years, rather than his one CC that he's had for awhile? Before I paid off my Sears, it was the same way, $600 with a whopping 21% interest, but the rest of my cards arent that way. IDeas? TIA. WHiz.

iVillage Member
Registered: 11-17-2007
Sun, 07-06-2008 - 5:06pm

I got a Lane Bryant card 19 % limit is 850.00 I rarely use it. Sometime I do use it when I am to lazy to get up and get the Citi out if I am ordering out of their book. The rep will say do you want to put this on your Lane Bryant card and I will say yes.

iVillage Member
Registered: 12-12-2004
Sun, 07-06-2008 - 7:51pm
Hi, Mary Anne--Thanks for sharing your experiences. Gosh, I am wondering now if I should tackle those and pay off, or just roll them over and let them be still open?. I really dont
iVillage Member
Registered: 11-17-2007
Mon, 07-07-2008 - 2:44am

If you really want to transfer money into a lower interest rate see if you can both get a First National bank of Omaha card when you get approved they give you between 7,000 to 9,000 and they have a first time rate of 2.9 or 3.9 but they do charge a 3% fee