If you have a low credit score obtaining a balance transfer can be difficult – but not impossible. One of our readers, Kellie, wrote in with this question:

Hello, how are you? I have 3 cards maxed out $500 $250 and $1000. I need a card to put them on so i can pay it off monthly. my credit score is a 602. Any help?

Thanks,
Kellie

Thanks for your question Kellie. The good news is that you can balance transfer to credit cards that aren’t specifically labeled “balance transfer credit cards.”

While your credit score is low to qualify for some of the better balance transfer deals, you can certainly obtain a credit card for improving credit, and transfer some, or all of your balances to that credit card.

This will give you the opportunity to make fewer monthly payments, and hopefully a reduced interest rate.

For specific suggestions on which credit card to choose you can check out the page below:

Thanks again for your question!

Payment Arrangements?

We also had another reader, Vincent, write in with this question:

I made payment arrangements to pay off a credit card in a very short period of time.

I paid a little over 1k on the phone when I made the arrangement and then two more payments of 1k the next two months per the plan. A month later, I get charged an additional $80.

I canceled that checking account because I didn’t authorize that charge and it was outside of the agreement. They’re continuing to insist I need to pay it.

What should I do?
Vincent

Hi Vincent, thanks for your question. The first thing to do (and you may have already done this) is to call your credit card company. Ask them why they put an unauthorized charge through on your checking account.

If I were in your shoes, I would speak to a manager as politely as possible. Explain to them that you have no problem paying your bill, that you were keeping to the agreement until this charge went through.

Find out:

Next, I would set up a separate checking account that is just to be used for this purpose. If you have a decent credit score, I recommend using ING Direct. Put in only the amount of money that you intend to pay your credit card company, and set up an automatic payment. In other words, have this separate checking account just for clearing up this account.

If your credit card company messes up again and over charges you, ING simply charges you a small amount of interest on the overdrawn amount rather than the high fees that other banks apply.

If they overcharged you once before, chances are it will happen again.

If you’re tired of messing with them you can also consider balance transferring your debt to a different company. In fact, when you call this company to work out the $80, I would strongly suggest threatening a balance transfer – you may get the results you need that way.

For more information on the available balance transfer options you can visit this page:

Paying Your Bills Online:

We had one last question from a reader, Grace:

Could you tell me how i can pay my bill on line ?
Grace

Thanks for your question Grace.

Start by getting out your credit card, and turning it over. On the back of the card (in small print) you should see a web address.

Get to an internet connection, and type that address in. Look for a white bar at the top of the screen that has the letters http://www followed by an address. Type the address on the back of your credit card in that box and hit enter.

Once you get to the website you will need to create an account. Look for something that says “Log In / Create An Account.”

In order to create an account you will have to verify your personal information. The credit card number, possibly part of your social security number, name and address.

Once your account is created you will need to log in. Then you should be taken to a page that will let you view your most recent statements.

Look around that page carefully for the words “Make a payment”.

Click on “Make a payment” and fill out the needed information.

It probably sounds harder than it is. Getting set up to pay your credit card bills online takes a few minutes, but once you are set up you can pay quickly and easily any time that you want to.

Most credit card companies are also offering automatic withdrawals now too. That means that you can set up the details once, choose a day, and have your credit card payment automatically come out every month on that day.

If you do not want a monthly auto pay, that’s ok too. One-time payments are the default.

If you get into the credit card company’s pages and you are having trouble, call the customer service number and ask for help. Since I don’t know which credit card you have, I can’t give you specific instructions for logging on. You credit card company can though!

Either call the 800 number that is listed on their website, or call the number printed on the back of your credit card.

Hope this helps!

Thanks,
Mr. CC

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This entry was posted on Friday, January 30th, 2009 at 16:09 and is filed under Bankruptcy FAQ, Credit Score Repair FAQ. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.