Hi. I need some information from anyone who has been down the road of finance before. I have been in business since April 1, 2006. I started my business with a credit line from the bank. And several credit cards. I make all my payments on time, however some credit cards have increased my rate based on credit score. Which is a new thing to me. I am looking to consolidate all of my credit card debt to one monthly payment. I am not looking to get a new credit card machine and have pmt taken from sales.
I am also interested in money for working capital. So...any input would be appreciated.
#2. "RE: Need to refinance, have to many credit cards" In response to Reply # 0
I think the best thing to do is to go with a credit union. Credit unions don't raise your rates just because your fico score went down. This is something that only the banks do. Try to find a credit union in your area that you are eligible for and let them know that you have perfect payment history just high debt load and of course they would run a credit check and do a manual review and more than likely you will get a loan at a good rate. If/when I start a business, I only plan to deal with credit unions when it comes to any financial needs.