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Credit card advice
Tooter-Fish
Registered User regular
Registered User regular
I don't have any real knowledge on how credit scores and all that work but I was hoping to get some free advice here.
I'm just a couple months away from paying off my car, so the bank I have the auto loan with calls me to inform me of an "amazing deal" on a credit card since I have been so good with my payments. They are offering the card at 0% interest for 6 months then it goes to 2.99% + prime and can be used for balance transfers.
From what I've been told about credit cards is that paying them off gives you good marks towards your credit rating. That being said, if I transfer all my other various cards (dept. stores/Target/Dell/etc..) and close those accounts does that count as paying those debts off so in turn giving me those good marks?
Second question, is that 2.99 + Prime actually an "amazing deal" or just a sales pitch? The woman on the phone wouldn't say when I asked her. She actually kind of snickered that I asked.
Are there other hidden things I should look for when deciding on a major credit card?
I'm just a couple months away from paying off my car, so the bank I have the auto loan with calls me to inform me of an "amazing deal" on a credit card since I have been so good with my payments. They are offering the card at 0% interest for 6 months then it goes to 2.99% + prime and can be used for balance transfers.
From what I've been told about credit cards is that paying them off gives you good marks towards your credit rating. That being said, if I transfer all my other various cards (dept. stores/Target/Dell/etc..) and close those accounts does that count as paying those debts off so in turn giving me those good marks?
Second question, is that 2.99 + Prime actually an "amazing deal" or just a sales pitch? The woman on the phone wouldn't say when I asked her. She actually kind of snickered that I asked.
Are there other hidden things I should look for when deciding on a major credit card?
Tooter-Fish on
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If you've got those other cards carrying balances where you're paying interest, it might be a good idea to pay them down with a new one at 0% (make sure the intro rate applies to balance transfers). Then, get it paid down before the juice kicks in.
Also you may want to check out this thread, there is a lot of good info there.