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Credit Card Applications » Questions » User Questions » Balance Transfers » I have a credit card and I made late payments. Now the interest is too high. My score is 671. I ...

I have a credit card and I made late payments. Now the interest is too high. My score is 671. I have 4 accounts with this bank, but they rejected my application for another credit card with a low interest rate. What can I do?

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Leo Zhu

You should consider a balance transfer to a new credit card. These cards have an introductory period, up to 18 months, during which you don’t pay any interest on balance transfers, purchases or both. You can transfer the balance from your high interest credit card and pay it off during the zero interest period.

Before you apply, here are a couple of tips. Do not apply for a credit card issued by the bank you already have four accounts with. Banks do not transfer the balances between their own cards. Also do not apply for credit cards several times in a row as it may ruin your credit score. Wait at least two months and only then apply for another credit card. That will lessen the risk of being denied.

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Intro APR on Balance Transfer: 0% (21 months)*
For Excellent/Good Credit
Intro APR on Balance Transfer: 0% (12 months (on balance transfers made within 45 days of account opening))
For Excellent/Good Credit
Intro APR on Balance Transfer: 0% (18 months)*
For Excellent/Good Credit
* Click apply to read the full Terms and Conditions.

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