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Merlin610

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Changing credit card companies
I am 70 years old and my income has been cut by $300.00 a month. I have an offer from a credit card to transfer a large debt with no transfer fee and lower interest rate. Is it wise to suffer the hard inquiry on my report?

























I am a 70 year old widow and my income has been cut by $300.00 in the last year. I have a large credit card debt and an offer to transfer to another company with no transfer fee and lower interest rate. Is it worth taking the hard inquiry on my credit report. I have excellent report at this time.

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If it will save you a bunch of money, then yes it would be worth it and may even improve your credit scores in the process by lowering overall credit utilization. I would look for a zero percent card to transfer your balance to. Some companies are offering a zero percent introductory period for sometimes up to fifteen months. Check the preapproval at Chase if you don't already have accounts with them.

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