10-31-2007, 07:07 PM
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#1 |
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Greenhorn
Join Date: Jul 2006
Posts: 29
Rep Power: 5  |
What is my best option to start eliminating my credit card debt?
I have two student credit cards, both from citi one for $2000 and the other for $1200. They are both nearing their credit limits and i was late twice on payments so both of my interest rates are at 32%. ive tried to talk to citi about lowering my rate and transfering my balance but they say i cant at this time. i can keep up with the minimum payments for now but not much more and with each month my interest rates keep bringing me closer and closer to my credit limit which i do not want to go over. What do you suggest I do? Do you think i can try to go to a bank or different company and transfer my balances. i would think they could tranfer the balances to a $3000 card with a lower rate. im not a homeowner either. and not yet 21. so other loans are not an option to pay them off... HELP!!!!<br />
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10-31-2007, 07:07 PM
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#2 |
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Greenhorn
Join Date: Jul 2006
Posts: 10
Rep Power: 0 |
What is my best option to start eliminating my credit card debt?
Yes, start with the bank you have your checking account in. Just walk in and say you want to apply for their credit card, and tell them you want to transfer the balance. Certainly the rate will be significantly lower than what you're paying now.
Credit card companies jump at every reason they can to justify raising your rates. If your bank doesn't offer a credit card, then just go online to all the major banks websites and apply for a card online (US Bank, Wells Fargo, Chase). Of those I like Chase the best. |
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10-31-2007, 07:07 PM
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#3 |
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Greenhorn
Join Date: Dec 2006
Posts: 12
Rep Power: 0 |
What is my best option to start eliminating my credit card debt?
I would definately look in to another company or bank to transfer your balances. The best source may be a non-profit debt organization, that helps people in situations like you. If you don't, the over limit fees and interest will make it so you will NEVER get out of debt.
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10-31-2007, 07:07 PM
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#4 |
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Greenhorn
Join Date: Jul 2007
Posts: 22
Rep Power: 4 |
What is my best option to start eliminating my credit card debt?
go to consumer credit counseling services. they work with creditors to lower your interest and then you pay in one payment everymonth.
worked WONDERS for my husband!!!!!! |
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10-31-2007, 07:07 PM
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#5 |
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Greenhorn
Join Date: Jul 2006
Posts: 30
Rep Power: 5 |
What is my best option to start eliminating my credit card debt?
,maybe consolidating,talk to a professional dept consoler and this sight might help http://www.cardratings.com/0706Anewsletter.html Good luck,the worse thing is a credit card ,use debit so you won't ever owe...3000 might sound really bad to you but if you do something now you should be dept free in a yr with no stress,credit card companies target kids over 18 the faster they can get you caught in their web the more money for them and financial disaster for you......Good luck...learn from this...i feel for you>>>:( but keep a chin up...Mia
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10-31-2007, 07:07 PM
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#6 |
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Greenhorn
Join Date: Jul 2006
Posts: 25
Rep Power: 5 |
What is my best option to start eliminating my credit card debt?
Credit card debt consolidation adds up all your unpaid balances and converts them into a single payment. This payment is far lesser than each of the individual payments.
When you finalize a plan with a debt consolidation company, the company repays your dues to your creditors. Then you make a single payment to the consolidation company every month. Your average new interest rate is much below the old interest rate. http://debts-to-wealth.com/category/Credit-Card-Debt-Consolidation.html |
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