Debt consolidation help?

Question:

I have two credit cards, the balance on the first card is $3,598.22 and the balance on the second card is $11,005.89. I want to transfer the balance on the first card to the second card but the credit limit on my second card is not enough to accomodate the balance on my first card. What should I do? My credit is good. Any suggestions on how I should consolidate them and not pay too much monthly.

Answer:
Credit card debt consolidation means taking all your dues and consolidating them in one monthly payment. With debt consolidation you don't need to manage payments individually. Beside that, it will also cut down your interest payments, lower monthly payments, waive late fees, miscellaneous charges, improve your credit rate and help you to save money.

Credit card debt consolidation will be helpful for you if you know how to do it right way.

Here are some tips, which can be used as guidelines for credit card debt consolidation.

Basically, there are two types of credit card debt consolidation. Read more about it at: http://www.credit-card-gallery.com/artic...

Call the second credit card company, explain what you're trying to do, and ask them if they will extend your credit limit for that purpose. Chances are very good they'll do it for you if you've been paying your bills on time and you have good credit (and you indicated you do, so give it a shot).

I do not think you can transfer what you charge on another credit card to another. You have to find another way because you are in debt with 2 credit cards. Pay off the the first card $3,598.22 asap. Double the payments for the $11,005.89. There is a discloser booklet that will explain what you can and can not do. Just keep paying on time/before time (that has made your credit good). In order to consolidate you need to go to your bank , credit union and explain your issues but you or still going to pay interest--find low interest loan to consolidate. Credit Report look for late payments.

I would apply for 2 more credit cards that have a promotional offer that on balance transfers you have a fixed rate and no transfer fees or sometimes just pay transfer fees if the interest is a lot lower than the ones you got and transfer the first two cards to the second two cards and you won't pay as much in interest.

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Debt consolidation help?

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