opinion: consolidate to one cc?

Visitor (not verified)
anonymous user
Registered: 12-31-1969
opinion: consolidate to one cc?
3
Sun, 12-14-2008 - 8:57pm

I have two credit cards.


12k balance 8.99% interest


9k balance 7.99% interest


I can put most of the 12k on the 9k card and then quickly pay off the remainder of the 12k card.


I think it is mostly psychological being down to one card, but the 12k card is also the only card we have (until now) actually used, the 9k we have not used in years it is just sort of our "pay off" card that we pay down balances from (we were up to 5+ cc are one point).

iVillage Member
Registered: 07-26-1999
Mon, 12-15-2008 - 12:14am
If something motivates you even more or just makes it psychologically easier to stay on the wagon so to speak, I say go for it. The danger is charging on that card once you pay it off...I would either lower the limit or close it after moving the balance and paying it off.
iVillage Member
Registered: 09-20-2004
Mon, 12-15-2008 - 9:17am

Personally, I wouldn't.

iVillage Member
Registered: 01-25-2006
Mon, 12-15-2008 - 10:32am

Hey Jenn,
I wouldn't do this unless you have a no-balance fee transfer available (I haven't seen one in my mailbox in probably 2 years) and the issue with messing with your debt to available credit is something to consider.

Peg