First of all, I'm a junior in college. I'm clueless about finances. I have three high interest rate credit cards. One has a $1500 limit, and I have about $1200 on it. One has a $500 limit, and I have about $400 on it. Another has a $300 limit, and I have about $200 on it. Most of this is due to medical bills. I know that medical bills are a priority to pay off, so I'd rather pay a monthly credit card bill than default on those. I've never been late on a credit payment. My credit score with Equifax is 625. I'm trying to my financial situation. My mother told me to apply for a bunch of lower interest rate credit cards and then transfer my balance to it and close my other credit cards, but I'm finding out that looks bad with so many inquiries into my credit and with closing my credit card accounts that have been open the longest. I'm really confused. I don't know what to do. Advice?
2007-07-07
11:10:34
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5 answers
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asked by
Anonymous
in
Credit