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bigcuban

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Balance transfer advice
Okay, I need help here. I'm kinda new to credit cards, so I don't know what affects my credit. However I have noticed ever since I got credit cards my credit rating has dropped. I used to have credit of about 700. Last month when I signed up for CK I had a 681 and now it says its 671. From what I been reading its probably because my cards are close to being maxed out. I used to think as long as I'm never late on my cards even if I paid the minimum it would help my credit but I've learned now I am wrong. I currently have two cards. A Discover card that has $2,000 limit and I only have 11 dollars available. I also have a Citi bank card where I have used up 772.00 of 1,000 available dollars. I'm already paying interest on both cards. On my discover card I have a 19.99% on my citi card Im not sure of my percentage but I believe its 19.99 also. CK recommended to me to get a Chase Slate card which has no APR for 15 months and recommends for me to balance transfers to save money. I was approved for the card and have a $2,000 card limit however I have a worse APR after the 15 months is done, its 22.99%. So this is my thinking and tell me if my thoughts are right... Should I transfer ALL of my Discover card to Chase or just half or so? Also once the 15 months are done should I change over to a new card or cancel my Chase card since its a higher APR? What do you all recommend in my situation??

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No on Balance Transfer!

You don't need a new CC as it seems you can not handle the ones you have right now.  A new CC will just prolong the issue and then you will charge them all up.  (  been there done that )

Stop Using the Credit Cards,  Lock them ALL up, Freeze them,  take them out of your Wallet, cut them up,  but you need to do something.

Live on Cash or Debit Cards until you get these CC's Paid off.

Do you have a monthly budget of what you make and what you spend ( don't think so ) TIME to start one.

You need to work on money management skills.  Know what your needs are and what the wants are that can wait or live without.

So what are you going to do?

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