May 18th, 2009
Michael asked:
I need about a 640-660 to get some credit that i need to be able to balance transfer my debt to a lower interest card with less monthly payment but i only have a score of 605
Im always on time with payments but the debt isnt going down even though i dont spend any more on the cards
Interest is super high and eating my monthly payments so how do i get out of this??
I was told that leaving accounts opn with 0 balance is better due to the fact it shows you have high credit you could spend but you havent spent it, i got advised to rais my credit limits if the companies would give me more credit and then just not spend it as the more credit yopu have unused the better your score, plus if i had the money to pay of the cards i would have done it already, im in this position coz i dont have enough money to pay them off only the minimums of which the interest eats it, hence why i need to balance transfer it all to lower interest card.
oh and as for the comment about getting a second job, i run my own business and i have applied for every job i find to supliment my income until my business picks up but nothing works out, i never get replies or interviews and there jsut isnt many jobs going at the moment, so im kinda screwed, gonan be in big trouble soon if i dont lower my monthly payments and interest, can barely afford to feed myself as im making sure the debt payments come first soa s to never be late or hurt my credit more.
As to the answer about asking for lower interest or getting a lower interest card well thats what im trying to do unfortunately i cant wait 3 months, im paying over $120 a month and i am cutting food bills and other important needs to be able to pay this and i cant go on like this forever, i have tried a card transfer and my credit is just short of being eligable to do that, and since the interest on my cars practically takes all the minimum i pay each month it never seems to make the balance go down hardly any, i cant afford to pay more than absolute minimums or i wouldnt be able to afford to eat.
Im not really worried about my score jsut worried that since i cannot afford to barely buy food as well as paying my credit each month, im worried that a day will come when i am short and my credit gets bad because of a late payment
I have bent over backwards to make sure i never pay late and always pay the minimums plus if i had more i woudl but i never do have enough to pay more
I have tried applying for different loans and credit cards to transfer or pay off the current debt and have a lower interst but it always ends with me being denied and then thats one more thing on my credit report lowering my score making it even wors so i have no chance of getting credit to pay this stuff off, i have 3 cards with capital one so i suppose i could try contacting them and seeing if they can do anything to help and the same with my 4th card.
Just to add, i HAVE tried all forms of consilidation, balance transfers and the like, consolidation companies say they would double my monthly payment which is out of the question as i am trying to reduce it, and my credit score is too low, just, to get any kind of credit card to which i could transfer all my balances from all my cards.
No offence but to the peole trying to get me to click affiliate links to companies that probably earn them money if i use their service, forget it, if iw anted to use a compny i would find their site myself and be sure it was legit
MARGARET
Posted in Low Interest Credit Cards | 6 Comments »
