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Question
should I accept or decline a new credit card with high interest rate?
I just received a card with 0% for six months and 23% thereafter. Should I decline it or accept it maintain a small balance?
Asked by
1luckyboy
10 months ago
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Does it have an annual fee? It also depends on how many credit cards you currently hold? If you only have two cards then I would take it and after six months pay the balances off monthly. Good Luck.
nandog 10 months ago
Decline! Dive! Dive! Dive! UNLESS... If you have no credit car or a limited/damaged history you're trying to rebuild, you might consider taking it. If you never, ever pay late, you probably will get a credit line increase in a year or two. Otherwise, you are a lamb being led to the slaughter. If it's too high for you, turn it down, spend a few months paying down existing debt that may be hurting your score, then try again.
kingcake64 10 months ago