My credit is bad, I need to transfer high rates to a... - Other Questions

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Credit Card Applications » Questions » User Questions » Other » My credit is bad, I need to transfer high rates to a zero or lower rate card, but I keep getting denied.

My credit is bad, I need to transfer high rates to a zero or lower rate card, but I keep getting denied.

Answered on | Updated on September 3rd, 2019
The content is accurate at the time of publication and is subject to change.

First of all, you need to find out the reason of these rejections. Issuers typically send a rejection letter with explanations, so just read it attentively. Then, check your credit reports to make sure that there are no mistakes. In case there are some, you can dispute them with the bureaus. You also should have all your credit accounts in good standing, no overdue payments and no excess of the limit. After paying off the late payments (if you have those), pay on time at least for two months on all accounts. Only after that you can try to apply for a card again.

Also, note that most balance transfer credit cards are designed for good or excellent credit. We would recommend you choose a credit card more thoroughly and not to apply for cards that are not appropriate to your credit score.

As alternative, you may consider personal loans. They generally offer lower interest rates than credit card’s APRs. And after the approval, money is usually deposited to your account very quickly – typically 2 business days.

Disclaimer: This editorial content is not provided or commissioned by the credit card issuer(s). Opinions expressed here are the author's alone, not those of the credit card issuer(s), and have not been reviewed, approved or otherwise endorsed by the credit card issuer(s). Reasonable efforts are made to present accurate information, however all information is presented without warranty. Consult a card's issuing bank for the terms & conditions.
All rates and fees, and other terms and conditions of the products mentioned in this article/post are actual as of the last update date but are subject to change. See the current products' Terms & Conditions on the issuing banks' websites.
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