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clevohardcore
* Kick\'n ass on the wild side *
Posts: 12937
Registered: 9-19-2004
Member Is Offline
Mood: Sick Of It All, Youth Of Today
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Your total balances on credit cards only?
I'm not tryin to get into your private shit or anything. I just want to know get an idea of where everyone is financially. If my amount of extended
credit is normal or am I in scary shape.
I got between my wife and I about $20,000 in credit cards only. I fucking hate this and I got to figure out how to eleviate it and the interest they
carry. I got to make some major payments becasue of my little one on the way.
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JawnDiablo
Posting Freak
Posts: 12139
Registered: 4-21-2005
Location: 1902666
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As of today I have $519... that i used on tires last week...but that's just now.
It took me years to pay off the debt i went into when the boy was born...i was in $5600 to discover alone....
Now the $519 is everything i owe since the car is paid off...
But honestly from what i was reading , the average married couple had aroung $20K in credit debt.. whatever you do dont do the cash advance shit..the
interest is enough to make you drink
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hollymaconmovies
Member
Posts: 237
Registered: 6-23-2005
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Mood: Drops of Jupiter
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Get a consolidation loan. You'll likely get a much better interest rate. Cancel all but one card, and put that one in a bucket of water, freeze it and
thaw only in emergencies. And don't memorize the number first. That's cheating.
And congrats on the the little one on the way.
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clevohardcore
* Kick\'n ass on the wild side *
Posts: 12937
Registered: 9-19-2004
Member Is Offline
Mood: Sick Of It All, Youth Of Today
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I can't get a consolidation loan apparently because I do not have enough equity in my home yet. I find it hard to believe but can't I get a personal
loan or something from a bank. I have tried but they will not do this for credit card debt consolidation. The reason is what if I take the loan and
then charge up the cards again. I WOULD NOT DO THIS, but I find it very hard to believe that their is NOTHING I can do.
And congrats on the the little one on the way.
^^^^ Thanks. We are excited but stressed about money.
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XHonusWagnerX
Moderator
Posts: 12509
Registered: 7-14-2005
Location: pawtucket
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Mood: hadDCore
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Not sure how good your credit is, but I just got a discover card because the offer was no interest on any transfered balances untill July 2006. That
gives you quite some time to be paying on the principal only.
I just bought some stuff so I think my credit card bill is about $1000-$1200 right now, but generally its only a couple of hundred at the most. I hate
carrying a bill from month to month so I try to pay it off as fast as I can.
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BDx13
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five or six years years ago, around the time we got married, we were a good 10k in credit card debt. i just kept moving the balance from one 0%
interest card to another until it was paid off. surprisingly, this did not affect my credit rating a bit.
now a days, we usually have about $1200 a month on our card, but that's mostly business expenses and it gets paid every month.
really, the whole thing is a game, you just have to figure out the best way to play. unfortunately, that's not equally easy for everyone.
If I fail math, there goes my chance at a good job and a happy life full of hard work.
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clevohardcore
* Kick\'n ass on the wild side *
Posts: 12937
Registered: 9-19-2004
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Mood: Sick Of It All, Youth Of Today
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Ya it is a game. However as recently as 6 months ago it got alot worse for ANYONE even oens with good credit to get better interest rates and if your
late 1 time they raise it to the max now. Also they will not decrease the rate unitl after 1 year of no overlimits. I fucking hate CHASE credit.
FUCKING ASSHOLES. My with had transferred about 10 thousand onto it at 0% until 1 year. It was great. We both lost our jobs and I found work before
she did. Once we got back on our feet she missed 45 days late on the bill. We caught it up and even paid an extra 100 dollars. They still raise dthe
interest to 29.49 and it's been their fro 1 year. AND THEY STILL WON'T LOWER IT. I have the balance down to $1000 and it will be paid off next week.
FINALLY!
THOSE FUCKERS CAN ALL DIE!!!!!!
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BDx13
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god, that sucks. bank of america tried to do that to my wife once years ago. we were out of town for like three weeks, and her payment was like two
days late, so the hit her with a fee and a higher rate. the next payment they got from her was a balance transfer check. ...and a firmly worded
letter! i'll never bank with them again. although, if they keep acquiring other banks, i might not have a choice.
If I fail math, there goes my chance at a good job and a happy life full of hard work.
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defstarsteve
Posting Freak
Posts: 3505
Registered: 11-19-2003
Member Is Offline
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0.....
well not really probably around 7 or 8 large, and then a car...
prabably 20 total...
damn ex wife...
fuck it
who needs credit
I have a house, a business, and a good family....
cash for everything
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Discipline
* DRUNKEN MONKEY *
Posts: 11900
Registered: 9-8-2004
Location: Over here
Member Is Offline
Mood: The Alley Dukes
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I just used a payout from workers comp to pay of all my shit but up until yesterday I owed 24 grand.
‘Do you know what a love letter is? It’s a bullet from a fucking gun. Straight through your heart.’
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clevohardcore
* Kick\'n ass on the wild side *
Posts: 12937
Registered: 9-19-2004
Member Is Offline
Mood: Sick Of It All, Youth Of Today
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"cash for everything "
^^^ That is becoming harder and harder these days. Also Duane you are right. Bank of america is fucking huge. Same wiht Chase who I believe connected
to Bank of America in some way.
Anyway. I hope all of you are able to keep credit.
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Ungodly
Member
Posts: 146
Registered: 6-30-2005
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Mood: Useless office speech
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| Quote: | Originally posted by clevohardcore
Ya it is a game. However as recently as 6 months ago it got alot worse for ANYONE even oens with good credit to get better interest rates and if your
late 1 time they raise it to the max now. Also they will not decrease the rate unitl after 1 year of no overlimits. I fucking hate CHASE credit.
FUCKING ASSHOLES. My with had transferred about 10 thousand onto it at 0% until 1 year. It was great. We both lost our jobs and I found work before
she did. Once we got back on our feet she missed 45 days late on the bill. We caught it up and even paid an extra 100 dollars. They still raise dthe
interest to 29.49 and it's been their fro 1 year. AND THEY STILL WON'T LOWER IT. I have the balance down to $1000 and it will be paid off next week.
FINALLY!
THOSE FUCKERS CAN ALL DIE!!!!!! |
Congrats on getting it paid!
All the credit card companies do that now, they raise the rate for any excuse they can find. There was a really good Frontline on them a few months
ago. It's in their interest for you to mess up, b/c they don't make any money on people who pay off their balances every month.
Mine was way worse at one point but I have it down to just a couple G's and I plan have that and my car, which is about the same as its blue book,
gone by Sept 06.
I definitely work the 0 and low interest offers- you just have to watch if they have transaction fees and, I don't use any cards, but if you do, don't
use that card after. They will make any higher rate purchase sit there and accrue and your payments will only go to the low-interest part.
Also this is interesting about credit scores- a big factor is your "debt-to-credit-limit ratio." That means if you pay off a debt, obviously, your
score will go up. If you close the card/account afterward, however, it will go down, because your credit limit went down. Of course it seems like
the better thing to do to close them and be done, but I leave them open for now. I dunno what my score is but when realtors run my credit they are
like "WOW, you have a great score."
My mom filed bankrputcy once, that sucked. I wish I never got credit cards at all. Other than a mortgage, debt is the worst.
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bystanderfanzine.com
Member
Posts: 375
Registered: 11-22-2004
Member Is Offline
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5 grand i think
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BDx13
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my fist card was a citibank card i got about 15 years ago cause my parents wanted me to start working on my credit. i didn't use it for years, then
it was my primary card for while, but it's been locked up for some time now. anyway, about twice a year, they'll credit my account with $25 just to
get me to use it. so, naturally, i do. i buy something for 30 bucks, pay the difference when its time, and then the card goes back under lock and
key!
If I fail math, there goes my chance at a good job and a happy life full of hard work.
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CR83
Moderator
Posts: 5221
Registered: 1-23-2004
Location: STL!
Member Is Offline
Mood: Harm's Way
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| Quote: | Originally posted by hollymaconmovies
Get a consolidation loan. You'll likely get a much better interest rate. Cancel all but one card, and put that one in a bucket of water, freeze it and
thaw only in emergencies. And don't memorize the number first. That's cheating.
And congrats on the the little one on the way. |
This maybe the best or smartest post I have ever seen on the internet. We luckily don't have a balance on our cards. We pay it off everymonth. Not
my doing. Mrs Reed83 is Queen of that.
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BDx13
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crazy thing is, i actually know a chick who does freeze her card. genius.
If I fail math, there goes my chance at a good job and a happy life full of hard work.
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XHonusWagnerX
Moderator
Posts: 12509
Registered: 7-14-2005
Location: pawtucket
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Mood: hadDCore
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It amazes me the ammount of credit the companies are willing to give out. I have a pretty good jobm, but Im not rich by any means and I get
"Pre-approved" applications every week.
About 8 years ago I was applying for any card I could to get the free stuff they were giving away. I never activated them so I didnt think it was a
big deal. Then I was getting ready to buy a car and somone said that any card you have is credit that you have extended to you and if you have to much
credit extended to you it can effect a lone. So anyway, I canceled about 15 cards and I kept track of the limits on each card I canceled. When it was
all over I had canceled over $65,000 in credit. I kept one card because it has a $13,000 limit on it and I figure there is no emergency that I cant
get myself out of with a card like that.
Now I have 1 or 2 cards I use, but I mainly use my dept card for stuff.
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moron
Posting Freak
Posts: 2393
Registered: 5-28-2003
Location: CT
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Im at about 3-4k. Hopefully I can get that down once Mrs. Moron graduates and gets a job. She can start off making twice as much as I do now so I'll
make her give me a little bit of money towards my credit cards.
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KyleOz
* CHOPS OF DOOM *
Posts: 826
Registered: 5-13-2003
Location: Middletown, New York
Member Is Offline
Mood: Social Distortion
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None, credit cards would be the end of my perfect credit/loan history.
When I have a real fulltime job with benefits instead of working fulltime hours but making part timer pay and no benefits.
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hollymaconmovies
Member
Posts: 237
Registered: 6-23-2005
Member Is Offline
Mood: Drops of Jupiter
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| Quote: | Originally posted by clevohardcore
I can't get a consolidation loan apparently because I do not have enough equity in my home yet. I find it hard to believe but can't I get a personal
loan or something from a bank. I have tried but they will not do this for credit card debt consolidation. The reason is what if I take the loan and
then charge up the cards again. I WOULD NOT DO THIS, but I find it very hard to believe that their is NOTHING I can do.
And congrats on the the little one on the way.
^^^^ Thanks. We are excited but stressed about money. |
Look around, some banks are more flexible than others. Sometimes they are more willing to give the loans if you cancel the cards. Also, I think
someone mentioned getting the 0% promo deals and switching money around, which also works well if you're carrying a balance. Every penny counts even
if it's only a short promotional period. And I know you said they won't decrease the limit, but sometimes just telling them you're going to transfer
the balance to another credit card company encourages them to become more flexible. It does depend on how good your credit is, but sometimes playing
hardball with them helps. One thing to be wary of though are those so-called not-for-profit credit management/repair companies. A lot of them are
scams and are being investigated by the govt.
And now for some unsolicited advice:
Thanks. We are excited but stressed about money.
^^^ It's good to be aware of your financial situation and take steps to correct any problems. But don't let it overwhelm you. I don't know if this is
your first child or not, but the baby's coming either way now. A lot of big changes are ahead, and new stresses of parenting. Try not to let the
financial issues consume too much of your energy. You're going to need all the energy you can muster for midnight feedings and crying jags. Enjoy
being a parent to be. I'll all work out eventually.
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hollymaconmovies
Member
Posts: 237
Registered: 6-23-2005
Member Is Offline
Mood: Drops of Jupiter
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| Quote: | Originally posted by ChrisReed83
| Quote: | Originally posted by hollymaconmovies
Get a consolidation loan. You'll likely get a much better interest rate. Cancel all but one card, and put that one in a bucket of water, freeze it and
thaw only in emergencies. And don't memorize the number first. That's cheating.
And congrats on the the little one on the way. |
This maybe the best or smartest post I have ever seen on the internet. We luckily don't have a balance on our cards. We pay it off everymonth. Not
my doing. Mrs Reed83 is Queen of that. |
haha Thank you. But I can't take credit. This little nugget of wisdom comes from a TV commercial I saw. Somebody, guy/girl don't remember, is watching
a QVC type deal and runs to the freezer and pulls out a block of ice with the credit card inside and start hacking away at it with a sharp object.
Time runs out before they can get to the card to buy the completely useless item they deeesparately needed. I think the commercial was in reference to
managing your credit.
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Dave
Posting Freak
Posts: 3281
Registered: 4-6-2003
Location: Halifax
Member Is Offline
Mood: .......
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183.00$
that's it
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XHonusWagnerX
Moderator
Posts: 12509
Registered: 7-14-2005
Location: pawtucket
Member Is Offline
Mood: hadDCore
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I just looked into exactly what I owe and the balance is $1107.58, not to bad. Since July has an extra week I should be able to pay more on it this
month. IF (and its a big IF) I dont buy anything else expensive for awhile I should be able to pay it off in a few months.
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JawnDiablo
Posting Freak
Posts: 12139
Registered: 4-21-2005
Location: 1902666
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i'm trying to reserve my plactic for only when the car hakes a shit on me, or when the boy needs school clothes or something important. done are the
days of best buy shopping sprees and car parts spend a thons....and i will not use em for a bar tab like i see lots of fuckers doing all the
time...although as tempting as it is , allot of tattoo shops in this area accept plastic and i really want this shit finished one of these days.
credit is a monkey on the back of many young people. i look at my parents and i dont think they owe shit on plastic. if they use it it gets paid off
right away..my brother uses it for everything and just pays it off monthly because he gets mega cash back incentives but to me nothing feels as good
as touching cash...cash is cool, just look at hip hop videos...day ain't flexin dare masta card yo
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Shane
* THORP STAFF *
Posts: 80
Registered: 2-4-2005
Member Is Offline
Mood: Kids Like Us - Outta Control
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$0
I can't even be approved for a $100 gas card. I have no credit and no way of establishing it. Sucks too because I'm 22 and can't even move out if I
wanted to because of this.
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