My husband has a card with (limit is $2,300 balance is $2,005) a 29.99% so the finance charges are $55monthly, and the minimum payment is $74 so l have started to pay the monthly plus the finance charges to try and get ahead instead of just the minimum as i was doing before. I would like to get a new card with lower apr% but his credit report isnt the greatest because he has a pre-forclosure short sale derogatory trade on his report, his mid fico score 2 months ago was 631 so his credit isnt horrible but that short sale is hurting because he cant seem to get approved for anything! not even with our own credit union! He makes gross income of $3600 so we have good income just bad report. My mid score was 662 2 months ago, but I have a 27,000 car loan with monthy payments of $540 and income of less than $500 a month. So I know i wont qualify for a credit card even though I get great pre-approved deals in the mail everyday, i know my score is decent but my income isnt. Anyone have advice?
2007-12-06 09:08:05 · 6 answers · asked by L.B.83 1 in Business & Finance ➔ Credit
Even paying the interest plus the minimum payment every month on that card, it will take you over 5 years to pay off that balance. Tighten up your budget and cut out extras like eating out, new clothes, premium cable and internet. Put every penny you can squeeze out of your budget on that high interest rate credit card, while you make minimum payments on everthing else.
If you work at it you can pay off that balance in less than a year. When you do get it paid off, only charge what you can afford to pay in full every month.
2007-12-06 09:24:39 · answer #1 · answered by bdancer222 7 · 0⤊ 0⤋
Simple, do whatever it takes to pay off the credit card as fast as possible. When this is done, pay it off every single month. The balance is not that large, shouldn't take too long. Never maintain a balance and the finance rate will not matter.
2007-12-06 09:13:02 · answer #2 · answered by Clown 3 · 1⤊ 0⤋
Get rid of you $27000.00 car and buy a $13000.00 car. Take the saving in payment from car and income to pay credit card.
2015-04-28 01:39:24 · answer #3 · answered by jim 2 · 0⤊ 0⤋
check out www.fastcreditcardapprovals.com here you will be able to compare all major credit cards side by side on rates and rewards. GOOD, BAD OR NO CREDIT they have the right card for you.
2007-12-06 09:58:53 · answer #4 · answered by GTW 3 · 0⤊ 0⤋
Try chase bank cards. They were 6.99
2007-12-06 09:12:00 · answer #5 · answered by mtchndjnmtch 6 · 0⤊ 1⤋
Can someone tell what is the correct answer for this question?
2016-08-26 10:10:11 · answer #6 · answered by ? 4 · 0⤊ 0⤋