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Should I open an interest-free credit card?
I am trying to pay off all my credit cards. I have three major credit cards and I owe $10,000. I’ve made every payment on time and I’ve been doubling up on my payments, but my interest rates are so high on two of the cards, that a big part of minimum payment is covering the finance charges.
Ideally, I would like to transfer my credit card debt into a 0% interest for 12 months card, where I can make large payments every month and pay the debt off faster, avoiding the finance charges.
But I’m worried that if I open another credit card, it’s going to hurt my credit score. I have good credit as of now, but I’m worried opening another card will hurt my score.
Any advice?
Also, if I get a new card, I need it to have a high credit limit so I can transfer most of my debt to it. How can I find the right card?
Thanks for your help.
right now with everything moving in different directions i would just hang tough and continue what you are doing until the dust settles in month or two!!!
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