Comments on: Should I combine my credit debt into one card?

By: Jeremy Kitching

Jeremy Kitching — Tue, 19 Jan 2010 12:31:57 +0000

That will save you money on finance charges, but what you really need to look at is changing the behaviors that led to the debt. Transferring money around to different cards won’t do any good if they never get paid off.

I encourage you to examine the habits that caused you to get in to debt and make changes there after you have decided on what to do with the current debt. If you can get a card with a higher limit where the balances can be transferred, and with a 0% APR until April of ‘09, I would definitely do it. I would then encourage you work on paying off that balance before starting to use the card.

Also, you might want to pick up a copy of The Total Money Makeover by Dave Ramsey. He has excellent advice for budgeting and getting (and staying) out of debt.

By: Sandrew

Sandrew — Tue, 19 Jan 2010 04:00:38 +0000

going with the lowest interest rate is always best

By: nathanjacobs

nathanjacobs — Fri, 15 Jan 2010 16:06:31 +0000

It would be wise as long as you can make your payments. It’s not that easy to get a 0% card though unless you have good credit though.

By: Brian K

Brian K — Fri, 15 Jan 2010 08:35:11 +0000

I would put them all on a 0% card. There are many offers. I would check out They have allot of good cards. I would with the chase card.

By: contemplating

contemplating — Wed, 13 Jan 2010 03:39:38 +0000

It’s risky. If you are late one time, those tend to go into a default rate at about 35%.

So if you do it, don’t be late. Also read the fine print. Often there is a balance transfer fee equal to 3% of the balance.

I would do it if I KNEW I could meet the following:
1) Pay on time/early EVERY month
2) Pay it off before the 0% APR expired (the rate usually goes up pretty high after that)