creditcards1982 (creditcards1982) wrote in repairingcredit,
creditcards1982
creditcards1982
repairingcredit

Credit Card

One good way to repair your credit is to transfer your balance from a high interest rate card to a low interest rate one.


By doing this you will eventually be able to lower your debt and pay off the credit cards. With a lower debt to income ratio this will improve your credit score.



If you have one of these high annual percentage rate cards you should transfer it

  • Best Buy credit card

  • Macy's credit card

  • Disney Rewards Visa
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    • 3 comments
    Credit scores don't take income into account.

    Ratio of credit used to available credit does matter. So if you're foolish enough to carry balances on your cards, you need to make sure you aren't carrying more than 10% of your overall available credit, and no more than 50% on any individual card.
    I agree to you.. In order to lower your credit card cost you should transfer it to a lower interest rate.

    Jurex
    - Credit Cards for Bad Credit

    Anonymous

    February 26 2009, 01:10:08 UTC 8 years ago

    but does it take into account your loan modification (http://www.loanmodifyexpress.com/)?