$ 40,000
credit card debt - Turning 58 - Have good paying job -
Faced recent financial challenges (medical / family assistance) over last 5 months - Have 10
credit cards (3 with
high balances, $ 15,000, $ 9,000 and $ 8,000)- Late payments only to the above 3
credit card accounts (3 mos, 2 mos, 1 month)- Made recent payments to 3
credit card accounts to bring accounts to temporary favorable status - Mortgage current - Completed graduate degree but left to pay last year out of pocket when reimbursement program was greatly reduced - Consulted with debt management counselor to go on budget and work with creditors to be paid out of a single monthly payment.
How
credit card balance transfers affect your
credit score — When a consumer is
faced with a
high - rate
card, switching to a lower - rate
card is smart, if you do it right.