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It is not recommended to apply for new credit cards or use the ones that you told the debt consolidation company that you can't afford the minimum payment. What is the point of using credit cards when you are trying to get out of debt?

If you use any of the cards that are in the process of debt consolidation, the company can end your contract and what are you going to do to get rid of your debt?

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15y ago

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Related Questions

What does bill consolidation consist of?

Bill consolidation helps you to get out of debt. It helps to lower different interest rates on credit cards and other expenses.


Where can you apply for a consolidating credit card?

There is no consolidating credit card, but if it's consolidation for credit cards then there are various means to achieve that. Through banks and other financial support groups you can apply for a credit card consolidation to simplify and even perhaps reduce repayment costs.


What steps are involved with debt consolidation help?

Debt consolidation is performed by a professional to help an individual pay off their debt. You can take out a loan to reduce interest rates on credit cards or other loans that you have out.


What is a consolidation credit card?

A consolidation credit card is a credit card someone will pick to use as their sole credit card for everyday expenses which typically has the lowest interest rate or the best benefits such as cash back or miles rewards programs. Also, if someone has other credit cards with higher interest rates, they can often transfer balances and "consolidate" them onto a single credit card with a lower interest rate, therefore lowering their monthly payment, costs and in essence, making the card a "consolidation credit card".


Can a credit seize other credit cards?

can a credit card that has won judgment against you seize other credit cards that are in good standing


What is the other name of credit card?

Credit cards are also called charge cards.


Where can one apply for credit cards with rewards?

One can apply for credit cards with rewards at websites such as Credit Cards and Credit. Other websites that one can apply for these cards at include Visa and TTBank.


Can you use a credit card to pay off other credit cards?

Yes. Contact your credit card company. They will need the account numbers of your other credit cards.


Where can one find more information about debt consolidation rates?

Consolidating your debt with a personal loan can help — and hurt — your credit score. When you use the loan to pay off your credit cards, you lower your credit utilization, which measures how much of your credit limit is tied up. Lowering your credit utilization can bump your credit debtredemption. On the other hand, applying for a loan requires a hard credit check, which can temporarily ding your credit score. And if you turn around and rack up new credit card debt, your credit score will suffer.


Does Mobil gas station accept Discover credit cards?

Yes, and various other credit cards.


How does consolidation company effect my credit?

When you hire a consolidation company to help you with your debt, you are basically telling the other creditors that you can not pay the minimum due and that you have to lower the interest rate. You will have a low credit rating on your report and if you want to apply for new credit, you can't.


Where can one apply for debt consolidation with bad credit scores in Alberta?

You can apply for debt consolidation with bad credit scores from the Alberta Credit Counseling company as well as many other debt management firms. It is best to seek out a reputable service for this.