Credit Consolidation Tips

Here is my recommended strategy to help you pay down your credit cards faster by minimizing the interest charged. This is something that I did several years ago so I can speak from experience that it works! You can apply for and utilize the Low Rate Mastercard through Northrop Grumman. You do NOT need to be an employee of Northrop Grumman to do this, you only need to join some kind of aeronautics club which is 100% free and something Northrop was able to sign me up for over the phone. I can’t even remember what it’s called since they did it for me. The benefit of this card (as of a few years ago when I used it) is that it was a low fixed interest rate (at the time, about 6%) for all balances transferred to the card and there was no balance transfer fee. If you’re working on paying of credit card debt, you’re likely paying a very high interest rate. This is a great way to save interest and help you pay off your debt faster!

Before you apply, figure out how much credit card debt you currently have. You should apply for $2000 more than your total debt you want to consolidate since they may not give you the full amount you ask for.

To apply, visit this link. Make sure to apply for the “Mastercard Low Rate”.

**Very Important!** Finally, once you transfer all your credit cards to the new card, check those old cards for the next 2 months to make sure you don’t miss any trailing interest that you owe. If that happens and you miss paying it, you’ll get a late payment on your credit and drop your score! I learned that one the hard way many years ago…

Let me know if you have any questions!

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Robert Breiner. Licensed Loan Officer NMLS# 1199942 | BRE# 01960372 Golden Bear Capital Inc. DBA Click Mortgage | 10174 Old Grove Road Suite 140​, San Diego, CA 92131​ | Phone: 888-440-3001 | Fax: 888-500-5815 Golden Bear Capital Inc. DBA Click Mortgage (NMLS# 284021) is licensed by the California Department of Business Oversight (CFL License# 603H185) and the California Bureau of Real Estate (License #01847011), Nevada Division of Mortgage Lending License #4043), Utah Division of Real Estate (License #6332409), Washington Department of Financial Institutions (CL-284021).

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