Help! Credit Cards!

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    • #336917

      Credit card debt in drowning us! We don’t have much “extra” money after bills. Anybody ‘been theer, done that’ & what advice do you have; other than “Stop using the credit cards” because we have already stopped

    • #448375

      I feel for you. I’m starting the snowball debt idea. It’s here on this site.

      The one thing I’ve figured out is that if we need extra money trimming the grocery bill is the best way. Have you tried contacting the credit card companies and see if they will “settle” or lower the interest rate if you cut off the card? Good luck to you.

      You’ll find lots of ideas here. Everyone is very helpful

    • #448379

      I would suggest paying the minimum amount on all and then pay as much extra on the smallest one as you can to pay it off sooner. I think it’s the snowball debt idea, but I’m not sure. In our house it’s hard to find extra money, but if you know it’s only for a time, it’s easier.

      Hope you find some help here.

    • #448532

      Worst thing ever~ or close to it!!! Put every extra penny into paying it off! The sooner you pay it off the better you will feel~ and yes, I speak from experience!

      Sell anything you have that you are not using either using ebay, Craig’s List and now on facebook you will find many local “exchange” groups— however anytime someone posts on ours, everyone tries to get whatever it is FREE! 🙁

    • #448577

      I work for a major credit card co. If you are looking for a lower rate and have decent credit, call! Speak to a manger if the cs representative can not lower it.

    • #448521

      You can also “roll over”… ensure you do the math & check for saving every month w/ other cards. many of the credit cards offer low balance transfer rates because they want your business.

      granted you’re still yet gonna pay for it… but say you have a card with 15% interest $5,000. balance.

      If a different card is offering 3% or $50 minimum balance transfer fee on 12, 18 or 21 months w/ zero apr… often enough if you take the time to do the math… it’s much cheaper than merely just paying off the balance month to month using on “that card”.

      it will lock in a zero interest rate for a given amount of time, ensure you don’t have to close accounts (*which damages your credit) and you’ll end up paying way less in the longer run as long as you are great about paying on time!!!!! because that’s the down side… if you don’t pay on time…

      there’s also likely a punishment for it… such as your rate will increase for the remaining balances pay off. best of luck digging out 2014 & sending wishes that your 2014 is debt free!

    • #448757

      I totally understand. I have 3 credit cards, all maxed out, and really want to work on these items first. My credit card statements show the difference in paying the minimum payment vs. paying a different amount and paying it off in 3 years.

      I am going to start paying the 3 year payment, and if I can “find” anymore money throughout the month, I’ll pay that on it also. Hoping to have them paid off sooner than 3 years. I would love to transfer all cards to one card with a better interest rate, but our credit is only “fair” so not many credit card companies will allow that 🙁 Good luck to you!

    • #448766

      I have two credit cards. Balance 0 on each. It has taken a long time to get there.

      Put every bit of extra money, even it was just 5 dollars on the lowest, put all tax refunds, every little insurance refund, every bit of cash that came in the house that was not dedicated to something on them.
      They have both “rolled over” twice. Meaning that I have received a new card twice from each without activating. them.
      There is nothing, and I repeat nothing except car repairs that I will ever put on them.

      I buy second had, fix what I have, and do without.
      To me, credit is not an option.
      Groceries are an option. Grilled cheese sandwiches and pinto beans three times a day are an option before I go into credit card debt.

    • #464515

      My philosophy is save money then buy. It’s worked for me, as I have zero money problems. My earnings are just above minimum wage. I’ve never made a good wage in my life , but I never buy then pay.

      Everyone I know is in debt. They say they have to use credit because they don’t have the money. It’s a viscous cycle.
      Pay off all credit card bills starting with the highest interest rates.

      Don’t buy what you don’t need. Save money then buy. Never again use credit.

    • #464601

      @Patrich 411503 wrote:

      I have two credit cards. Balance 0 on each. It has taken a long time to get there.

      Put every bit of extra money, even it was just 5 dollars on the lowest, put all tax refunds, every little insurance refund, every bit of cash that came in the house that was not dedicated to something on them.

      Nice story so far. Thank you so much for sharing with us. 🙂

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