Can I open up another credit card.....?

Question

My husband and I currently have a credit card that is maxed out...Only about $1500 on that one. We also have an item for another $1500 financed through the company we bought from. I make payments on them every month but can't seem to get them down.

I was thinking about getting another card with 0% interest for the first 12 months and using it to pay off the other 2 accounts and then paying off the new card during the 12 month no interest period...Plus it would be easier paying 1 credit card bill each month instead of 2....Is this a bad idea? Any suggestions?

Answer 1

It seems like you guys need to tear up those cards and not get any new credit. It will just put you more in debt.  Pay the $1500 cards off my paying the min due plus $100 every month. The balance will be at 0 before you know it.

Answer 2

getting a 0% interest credit card is a great idea because you could do a balance transfer to your new card and pay zero interest for a while check out www.fastcreditcardapprovals.com and go under 0% on Balance Transfers here you will be able to compare them all side by side on rates, fees and rewards.

http://fastcreditcardapprovals.com/