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I'm graduating from college in May and accepted a job paying 48,500 a year. Over the last year I've started to build a credit card balance. The balance is currently 4,500 on this Visa issued by MBNA America (have had account for 3 years). I also have a Discover Platinum card with about 300 on it (have had account for 2.5 years). Currently I work part time while in school making 17.00 an hour and I'm looking to transfer the 4,500 to a card with a 0.0% APR on transfers (for like 6 or 9 months). As I mentioned, I have accepted a job paying good money, but haven't started there yet (start June 7th). Once I move and start working, will I get turned down because of the short time at that adress and short time at that job? Or does a company look at the date of birth and figure that I would be a college graduate just starting to work and this would therefore not be an issue. Can anyone comment on this? Any suggestions on a card that I could transfer to? Or should I just suck it up and pay the interest charges out of ease (I hate throwing that money away)?

First of all, congratulations on your job.

This is my opinion: I don't think the length of residence "weighs" that much in your credit score. After all, we all move once in a while. $4,500 in debt is not that much either, so your debt-to-income ratio is also fine.

I think the important thing in your case will be the ratio between your total credit line and your current balance. Generally, you want that ratio to be 3:1 or more (so you're not using more than a third of your total credit line and can always shift balances in case you need it).

You didn't mention the APR, but if it's higher than 10%, I'd definitely look into doing a balance transfer.

P.S. Another strategy, of course, is to call your bank, tell them about your new job and point blank ask them if they can lower the APR (you never know, they might just do it). Read this:>http://www.creditcardmenu.com/ccm/ccmpp_119.html

The APR on my two cards are 13.99 and 14.99 for the Discover and Visa respectively. My credit balance to limit is more than the 1:3 ratio that you suggest. What would be my best course of action given this? Should I attempt to call the banks as the article suggests and lower my APR without transferrring? Or should I still try to transfer? I've always paid more than the minimum and have never been late with a payment. Thanks again for your help.

I think calling the issuer never hurts - the worse thing that can happen is that they'll simply refuse to lower your APR.

As far as the transfer is concerned, my guess is as good as yours. On the surface, you should qualify for a better rate, or, at least, for a better intro rate. But I can't guarantee you'll be approved. Just make sure you don't apply for several products at once - too many simultaneous queries on your credit report is not a good thing. If you get denied the first time, it may make sense to wait for 5-6 month.

Among cards listed here, several have lower APR's, for example:

Chase Platinum (for balances over $2,500)>http://www.creditcardmenu.com/ccm/dld_crdid_148.html

American Express Blue Cash>http://www.creditcardmenu.com/ccm/dld_crdid_31.html

Make sure you read fine print on the issuer's site before applying. Sometimes the terms are such that you may be approved for a higher APR than the "elite" ("premium") pricing mentioned in ads. That will depend on your credit history.