I'm a college student and back home making money right now. I've got an AMEX Blue with 2000 on it (8000 limit) and Chase Freedom with 1200 on it (7500 limit). Both are out of their introductory 0% for a year time limits and I'm now paying interest. I've got an old Citi MTVu Card with no balance and 5000 dollar limit.

I'm thinking of looking for another card that I can transfer these two balances to and hopefully phase out the Chase Freedom. I will keep my MTVu, because I've had it open for 3 years and I love Amex's customer service, so that leaves the Chase either in the sock drawer or closed (any opinions?).

My credit score from equifax (freecreditreport.com) tonight was 747. I figure that's good for a college student with not a lot of history.

Any thoughts, suggestions. I'm charging about 1000 a month on each and paying 1200-1300 (2000 spent - 2400-2600 paid).

Best idea is to take out a personal loan and pay off the cards completely. The interest rate will be a lot lower than the credit card interest rate, so your repayments should be lower too.

Then, cut up one of the cards and ask for the limit to be reduced on the other so that you don't get back into this situation again.

With the global economy going the way it is, interest rates are only going to go UP. Cards will always be the most expensive form of money you can get, use them wisely ... i.e. as little as possible.

-Mark.

Being a college student and I am assuming you have no assets, it will be highly unlikely you will be able to get a personal loan in any amount.

Since you use your card all the time, the best thing for you to do is to get a card that has a cash back rewards program and has a 0% introductory rate like discover.

It looks as though you have been pretty responsible with your credit and at the rate you are paying, it should be paid off in a little over a year. In that time, you will be getting cash back on all of those purchases that you are making every month. Once you get the debt paid off, continue to use just that card and pay off the balance in full every month and start making your money work for you.

Don't close the other accounts or reduce their limits because either of which will adversely affect your credit.

Good luck to you,
Kathy

You don't need assets for a personal loan, just proven ability to pay.

747 is a pretty good credit score - so obviously carrying 3 credit cards has helped you establish a decent credit history. Even though it could be higher, you have a good chance of getting approved for most standard credit card offers. The fact that you've already been approved for 2 non-student credit cards is a good sign that most issuers would approve you for an additional card. At this point, it's probably not necessary to cancel any of your existing credit cards since you only have three. Unless you're uncomfortable with having 4 credit cards, I would leave the other ones open and find a new 0% APR offer. If you still want to cancel one, choose the highest interest rate offer (probably the Chase Freedom).

Ralph, I thought you seriously needed some advice. Please don't waste everyones' time by making a post and then waiting a while and then answering your own post with a sales pitch.