How to manage revolving credit

After my divorce a few months back, I got my marital house sold off. But then it did not affect me in any way. However, due to 35k in revolving credit, I have a high debt to income ratio. I feel that once the mortgage lender reports the selling off the property, my credit scores will improve and also reduce my debt to income ratio.

I want to know what\'s the best strategy for going ahead… get a good 0% transfer to another card for 12-18 months, a time frame I believe I can discharge my remaining debt in or take out a loan against my 401K?

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You should never take out a loan against your 401(k) account.

You can transfer your balance to another card with 0% interest. Try to pay off the debt within the introductory period. This is because the interest rate on these cards are most likely to get doubled after the expiration of the promotional period.


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