In Debt - PLEASE HELP!!!?

Question

Hello, I have a Discover card with roughly a six thousand dollar balance that is next to impossible to get paid off because of the interest rate. The APR is at a wopping 28.99% due to some late payments I had made from being unemployed. I just recently moved in with a friend to help get this paid off but the payments I make are just not budging this amount! Can someone recommend a good and reputable Visa and/or MC credit card for me with a low or zero APR so I can just make payments with it to get this paid off sooner? I am dying and have to get this paid off! My credit is good. Any help/links would be great asap!

Answer 1

First call Discover and tell them you want a lower interest rates and if you don't get it, you'll transfer the balance to another card and close your account. Then go to bankrate.com Under the credit card section, they will list cards and their rates. Check balance transfers separately because cards often charge different amounts on that. Once you've done this and get rid of your debt, do NOT spend more than what you can pay for each and every month. Don't ever get into debt again, it will be the demise of your financial life.

Answer 2

First, cut off your Discover Card and don't charge it any more on it. That would be a big help to pay off this account. What is your credit score? Above 750? If so you can try to apply for Chase Manhattan. I think they have special introductory rate for 0% on balance transfer for certain period of time. You will have to focus to pay it off before the period ends. Also do't charge any more on this new credit card too (whatever you ended applying). Becasue that way, you will never finish paying off your credit. See why they have special introdutory rate, to lure consumers to them. I think after few late payments on your Discover Card, I think the score had been effected negatively. So if you cannot get another credit card, you should pay attendtion to how much you are paying every month. Do you always pay more then the interest accrued? I can tell from the interest rate and the balance that your minimum required payment is less than your interest accrued. Is it that your balance is growing bigger and bigger for some reason and you cannot understand. That is the reason why, you are paying less than the interest accrued every month. So the interest adds to the principal and just keep snowballing. Well, good luck! But cut off the credit card and find out your credit score first before you apply for another credit card. Sometimes applying too many credit cards in a short period of time hurts your credit score too.

Answer 3

first thing you might want to try is Call Discover card and ask if they will lower the interest rate. If they don't want to lose your business and you actually do have good credit I would guess they'd lower it based on your current payment history. It is hard to recommend a specific credit card because the offers are dependent on your credit history. Pay as much as you can every month as minimum payments are never going to make a dent.

Answer 4

Summer,
Thanks for the giggles.
u should read the zero percentage balance transfer FINE PRINT at any time and for any reason they can raise ur rate to 29% plus.
suggest u stop breath deep do not deal with snakes(credit cards).suggest u get 3 more jobs - great place to go when in debt - work. visit daveramsey.com to learn the hard mistakes u have and will make by others mistakes. lots of good info to save ur mind and future.

Answer 5

Is it a Walmart Discover by any chance? My Walmart Discover just last week offered me a little known program called their "hardship" program. They lowered APR to 0%, no late fees, no over limit fees and my payment went from $111 to $114 until the time it is paid off.

I have asked other companies for their hardship program and usually they do have one, not as good as that one, but still it's worth asking.

Answer 6

You can pay this off, what you need to do is get on a budget. Cut that credit card and all your cards or lock them up, don't use them at all.
The way to pay off credit card debt is to do a "debt snowball" effect, what you should do is sit down look at your debt from smallest to largest. Pay the obvious rent, utilities and etc...Use the budget to figure out how you want to attack this. Pay the lowest as much as you can, use the rest of the money to pay off the next lowest. As for the $6000 bill, small payments.
However if you don't stick with your budget you'll never pay this off. You'll need to temporarily change your lifestyle if you want this paid off. This means sacrificing some stuff you normally like to do. Do you go out every weekend with the girlfriends? You'll probably want to stay home and save the money. You don't use the gym at all? You'll probably want to cancel that membership if your not using it. Want to see that movie? Wait for it on DVD. Look around the house, you have anything you don't use at all? The clothes you don't wear, the items you never use, consider selling them off to make money.
You may not like doing this, but if your serious about getting out of debt it means making sacrifices.
You can kill this off, stick to that budget and in time you'll get rid of this. Once you do get rid of the debt you'll have changed your spending habits and perhaps not in debt anymore.
Its a great idea that your thinking of moving it to another credit card, however this only is a bandaid, either way your still stuck with $6000.
Good luck!

Answer 7

Umm, i'm exceptionally specific statue of barriers in basic terms protects you whilst commit a criminal offense (Sorry approximately that) wager what 2 crimes it would not influence? Murdering somebody (of direction!) and not paying taxes... you nevertheless ought to pay your costs. whilst you're in debt, make a funds, and make a itemizing of each dime you spend. you will discover someplace the place funds is going that it would not must be.