They are called Credit Card Zappers.

If you need help lowering your credit card debt, they are great.

The other two cards are paid off (actually , I transferred the balances to the 2.9% fixed card). Their cred. limits and Int. rates are $5,000 @ 15% and $4,500 @ 10%, respectively.

You mention having only 3 cards open at a time. Would it help my FICO score to close one of the two open cards? If so, which one?

Thanks in advance!

I've bookmarked this site…

http://loan.deal4-you.com/

All the best to you.
References :

http://www.worldbestloans.com/personalloans.htm

The repayment duration of secured personal loans ranges from 5 – 25 years. You can lower your monthly installments by opting for longer period of repayment. Secured personal loans carry very low interest rate simply because they are secured in nature.
References :

You have one that you pay off every month. If you do this the interest rate is not a factor. The card should have some kind of rewards such as cash back, points or air miles etc.

The second card is to be used for higher priced items that you will pay off over a few months to a year. Such as furniture, TV, etc. This is the one where interest rate matters.

Sidenote: If you do NOT pay your balance is full by the due date and you continue to use/charge the card you are charged interest the day you use it. If you paid it in full you get a grace period.

Also, you want to keep your balanced below 50 per cent of your credit limit. If you are over then it will neg. affect your credit score
References :

Be careful that you get a credit card with a relatively low limit, which you could pay off at any time, should you need to do so. Right now, I think I would look at a bank with which I had been doing business for a long time and trusted to get a credit card, rather than looking around for good deals. I would also choose my own company to do business with, rather than responding to offers from companies who advertise to you. And be VERY wary of low introductory offers. You may get a low interest rate for a few months and then, just when you have accumulated a balance, have it jump up to something horrible.

Read the fine print and ask a lot of questions. Notice that the rates are often a lot higher for cash advances than they are for purchases. Beware of annual fees and other catches, like a mandatory insurance policy (I had a card with one of those which basically doubled the interest I was paying for years).

Remember that your interests and those of the credit card company are very different. They make their money from interest payments, so they don't want you to carry a 0 balance on your card. You, on the other hand, want to avoid paying interest at all, which means paying off the card every month.
References :

Basically this will open up a loan in your name and use your savings as collateral. The institution will cut you a check for the amount (we can use $1000 as an example) and you can simply place that money into your account and use it to make payments. Your payments will be recorded and help you begin to grow your first lines of credit. After wards you'll be able to take out loans for things you actually need (i.e. furniture, remodeling, vehicles, etc) and when making payments on those, your credit score will improve.

Just be sure you actually make your payments.
References :

1. MAX OUT YOUR CARD

2. DON’T PAY ON IT ANYMORE .

What are they going to do to me , it’s unsecured debt ? soooo the worst they can do is harm my credit score right ? but if no one’s lending anymore , my credit score means WHAT again ? nothing , this is a depression .