Consolidating debt with credit card companies
How much of your available credit line you actually use is called “credit utilization”, and you generally want to keep it under 30%.
For example, if your total credit line is ,000, you shouldn't be using more than ,000.
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The new line of credit you are issued sets the limit for how much of your balance you can transfer to it – typically banks will not issue credit limits larger than $15,000.
The actual number will depend on your credit score and income.
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One of the most popular means of consolidating credit card debt is by using a balance transfer.