- Discussion board

I have 2 credit card with high interest rates and would like to consolidate and just have 1 with a low interest rate so that I can get rid of them quicker. (I learned my lesson the hard way) The problem that I am having is they take all of your info and then they refuse to give you a card even though they said that you were guaranteed one. (I don't like giving out all of that info, especially my SS#) The one card that I really want to get rid of, if nothing else, is one that promised me a fixed low rate and then when I came close to hitting my limit they raised the interest rate to 16% without telling me and they said they had the option to do that when I contacted them. I thought that if I got a fixed interest rate it would stay fixed at that amount.

Your APR could be worse than 16%, but it could also be much better. If you have a good credit history you could probably consolidate your balances on a Capital One card or a Bank of America card at 9.9%. If you want to just consolidate and not make any new purchases the Bank of America 8.9% card would make sense. Check out the browse section for these and more products.

I tried Bank of America and since the 2 credit cards are close to the maximum limit they won't give me their card or let me transfer. All I want is a way to pay off these 2 cards at a low rate. I even tried to get a loan and that didn't work. I have good credit, so I don't understand why they won't help.

What was their official reason for declining your application? Was it too much outstanding credit??

Also, how many cards have you tried to apply for? You definitely do not want to apply and be turned down for numerous cards in a short period of time, but keep in mind that different issuers have different scoring systems for determining if you are accepted. If you do in fact have a good credit history and you have not been turned down by other issuers besides BOA, I would suggest trying for a Capital One Platinum.