I have one credit card but it is maxed out at $4,0

I have one credit card but it is maxed out at $4,000. It has an interest of 25%. I was looking into a balance transfer card that is 0% interest for 18 months as I want to pay off the debt in 12 months. Should I just over pay on the current card or do the balance transfer. I also have a very short credit history and am looking to raise my score as the 4k is my only debt at age 26.

2 Answers

i have a question i have 5 credit cards is it best for my credit score to pay 4 of them off and have a high balance on one or should i just spread what money i do have to free up space on all them. I want to get a car soon and i cant pay all them off but i can pay majority of them off and keep one high towards the balance or can spread it around..... its driving me crazy


Yes, its an excellent option. You can transfer the balance and pay off the debt in 12 months at 0% interest. Its way better than paying off $4,000 @ 25%.


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