FICO score 675-700, solely because of poor CC Debt to Credit ratio, >95%. Will be able to fix that problem in ~4 months by paying off all CC debt, but will still have ~300k non-forgivable mostly federal student loans @6.5% that I would like to consolidate. Not sure what the best option would be:
- Apply to consolidate my loans now with the credit score I have? Maybe apply to refinance later with better credit and maybe better terms?
- Apply for a 0% APR CC and transfer a balance over, so that my debt:credit is lowered, and then apply to consolidate?
- Wait ~4 months after paying of all CC debt and then consolidate?
I'm not really sure what consolidation terms I will get with the credit I have now vs potential score in 4 months, but figured I would ask you guys before applying and taking a hard hit on my score.
You guys are lifesavers. Such a great community! Thanks so much in advance.
Submitted May 24, 2019 at 10:14PM by erdocmd http://bit.ly/2MbsYOI
