Finding A Higher Reduce Credit Card

Finding a charge card that markets substantial credit rating limits is not a quite challenging procedure. However, acquiring credit cards having a substantial restriction is a bit more tough currently laptop or computer was in the past.

This past year, prior to the finance crunch issues began, creditors enjoyably handed out quite high limitations to customers. Over the past 12 months, even though, the quantity of bank cards promoting higher credit restrictions has lowered significantly. In spite of the lowering of marketed credit score restrictions, it is still easy to get original credit lines of Money10,000 to $25,000 if you have good credit. Regrettably, a little something special little problem along the way.

We contacted each and every main card issuer to inquire about credit rating boundaries. We identified some enterprises that supply very high limitations and others with typical to low boundaries. In spite of these differences, almost every charge card company we questioned offered the identical response to the Dollar25,000 question. That’s, when requested what the credit limit wed obtain was, we had arrived instructed that the only method to uncover your borrowing limit is to full the application.

Regardless of how substantial to your credit rating or how clean your credit report, the finance limit you will get from a lender vary determined by an array of inside aspects. These magic formula quality recipes for figuring out credit history limits also fluctuate extensively from bank to lender. For instance, 1 lender may regard you suitable to get a Bucks5,000 borrowing limit, while an additional offer you Dollar15,000. Principle deal is that this: implement very first, get your borrowing limit later on.

On our web site, we listing gives from credit card issuers which promise their credit rating restrictions. Unfortunately, you will not know had you been approved for any substantial limit bank card for any where from a few days to a couple of days.

Thankfully, there are several techniques you may make to find the obtainable credit rating you would like quickly. The very first choice is with for 2-3 charge cards who advertise higher credit rating boundaries. If the playing cards arrive in the snail mail, activate the card or charge cards that supply the finest cope on interest and also the right credit limit. Should you preferred a Bucks10,000 borrowing limit and you also obtained accepted for two playing cards with $5,000 restrictions, than you could use those charge cards collectively to suit your needs.

Finally, obtaining a large reduce charge card needs a little tolerance and the rendering of your proper strategy. Trying to get a number of credit cards is, inside our appraisal, the easiest method to obtain the credit limit you’ll need on a card (or bank cards) with all the best costs and terminology.

100 Comments

  • Irma says:

    I recently had to defer my salary at my job for an extended period and cannot afford to pay my credit card debt. What should I do? A friend advised me to not make the next payments and negotiate with credit card companies on the debt. Is this wise? Would you advise I do something else? Thank you.

  • Sofia says:

    How can banks get away with very high interest rates on credit cards, when the Bank of England interest rate is almost zero? Should the UK Government make the banks reduce their rates – or would that be unfair on the banks?

  • Luke says:

    …debit card?
    Are there advantages to doing transactions as one over the other? What are the pros/cons of each? Are there any fees associated with either type of transaction?

  • Morgan says:

    After several years of CC debt I finally made it a point in 07′ to pay them off. So I wrote a $12,584.63 check (that hurt) to Visa to clear the remaining balance. The limit on this Visa was $16,000.00. Two weeks after the check was sent and applied to my account I received a letter from Visa stating ‘congratulations we have raised your credit limit to $23,000.00′. I don’t want/need that much credit and I am not sure if by keeping that limit helps or hurts my credit score or if I need to ever to apply for credit somewhere else if that will raise a red flag. Any adive of suggestions?

  • Darrell says:

    Explain how each of the following developments would affect the supply of money, the demand for money, and the interest rate.

    a) The Fed’s bond traders buy bonds in open-market operations.
    b) An increase in credit-card availability reduces the cash people hold.
    c. The Federal Reserve reduces banks’ reserve requirements.
    d. Households decide to hold more money to use for holiday shopping.
    e. A wave of optimism boosts business investment and expands aggregate demand.

  • Bill says:

    I am trying to find out how in reality do we know the level of money supply that is required to keep an exchange rate at a fixed value. Do central banks have a pratical way of calculating the money supply that is necessary for maintaining a particular exchange rate?

  • Faustina says:

    My husband cosigned for a credit card for his father. His father ran up the bill and is unable to pay it, leaving us with the bill. We are trying to find a way to get our money back by helping to set his father up with some type of financing. Is there any way his father could get a loan or a credit card to transfer the amount even though he has very poor credit? What other options do we have to transfer this debt to his name?

  • Edwin says:

    I have 2 credit cards. Between the 2 of them I owe about $5,000.
    I want to pay them off, both of them. At least lower the balance to $3,000 (for now). How can I do this and still have money. After I pay all my bills I have about $1,000 left on my checking account.

    HELP!!

  • Imelda says:

    I have a credit limit of 2500. and I’ve spent 1500. and my interest rate is 14.99%. I don’t really need to use my credit card anymore and i just want to pay it off. So my question is What could i do to lower my interest rate? Is that a good interest rate already? Any suggestions on what i could say to get them to lower my interest rate? I’m pretty lost on this one, Any info would help! Thanks

  • Everett says:

    I’m a 27 year old stay at home mom of a 1 year old daughter, and my husband (who’s 24) works full time. I’ve always spent around $600-$800 on my husband’s credit card on clothes shopping and ordering take out, and he’s always been understanding, telling me that he understood how hard it is to be a stay at home mom.

    This month though, I went crazy. I ordered food almost every day; I went shopping almost every day, and I think I may have already topped $3,000 for this month. Even though my husband is generally very gentle, I think if he sees the bill, we’re going to get into a fight. Should I hide the credit card bill?

  • Anibal says:

    My husband owed money from a credit card which had not been paid in ages. Finally we organised to pay the card off fortnightly and have now paid it all off. The problem is that the people from the collection agency said my husbands credit is buggered. My husband said we can’t get a home loan for at least 7 years.
    Can a credit rating be fixed or are we stuck like this for the 7 years. I am from Australia so I don’t know if the same laws apply alsewhere.
    Thanks
    Just want to make sure people atually read the question and give serious answers only. (Looking at the person who answered this first who obviously didn’t read it properly)

  • Seymour says:

    I understand that higher credit card limits should increase your FICO score. For the sake of my question, let’s assume that a minimum of that available credit is used, and a good credit history.

    Why then, does TD Canada Trust’s online calculator reduce one’s available mortgage with an increase in credit card limit? I find that quite confusing and would really appreciate any insight that anyone might have.

    Thank you in advance!

  • Pilar says:

    2 years ago I got a credit card with $500 dollars on it to start to build my credit, I’ve always paid on time and have a good credit score (around 740). I have a balance of 475 out of $500. I requested an increase in my credit card but they denied it due to my balance. I’m in need of money this Christmas season and I was wondering if I would get approved for another credit card? Also, what would be best to apply for a Walmart Credit Card or a Regular Visa Credit card?

  • Carmel says:

    Is it the same as credit score?
    What is credit rating used for?
    And what affects a person’s credit rating?
    I think this is just for a person, not a company. Can anyone help me?
    And please list your sources. Thanks!

  • Shirley says:

    I am having trouble making payments towards my credit cards’ depth, particularly because my interest rate is pretty high and it forces me to pay hundreds of dollars a month. Plus, I am currently out of a stable job, its pretty difficult to find a job in this economy.

    How do I get my bank to reduce my credit cards’ interest rate?
    What is the best way to argue my case?
    What are some things I need to pay attention to to help me pay off my depth?

    My interest rate on both my credit cards is 19.99%.

    I strongly appreciate your recommendations and help!

    P.S. I am $7’354 dollars in depth as a whole. So approximately four thousand+something on one card and three thousand+something on the other card.

  • Sam says:

    Hello, I’m 21 male from UK. I have been working since I was 16 started on £11,000 P/A now a Sales Manager on £23,500 P/A. I have never been out of work and have no debt. I missed 2 payments whilst is Spain for 3 months for my phone contract but soon as I got back I paid in full. My Rent, Car Insurance, Sky, Virgin, 3 O2 Contracts, bills etc have all been coming out never missing a payment for the last 2 years (when I left home). You get the picture. I went to get a Argos card the other day and declined. So I checked my score its 350!?!
    All the payments on my file for my bank, O2 etc we’re all green ticks. Only one which wasn’t was the O2 one mentioned 2 and a half years ago. I owe no money to any lenders etc and want to build up my credit to purchase a house in the future. I have a debit card cash account and a savings account and this is as far as I can go. I want to build up my credit but they will not accept me for a high rate capital on card for people with bad credit.
    I have only lived at 2 addresses all my life one with my parents for 19 years and this one I rent with my partner for 2 years.
    I just don’t get it? I get people coming in my shop on the dole with credit cards, phone contracts etc.
    My partner who does not work and looks after our 2 children has debts from before we met of around £5000 and a couple of CCJ’s got accepted for the argos card and her score is 695!
    I am sorry for the rant and apologies in advance for putting my wage this was only so people could get an exact picture and could help me. Also no haters please as I am young with 2 children but I work hard for my family and we do not claim etc.
    Any Help will be very much appreciated.
    Kindest Regards
    Gary (I’m on my partners account)

  • Dee says:

    I have been ripped off by a credit card system & need to know which Agency is a watch dog for credit card abuse of consumers. I paid off a defaulted credit card debt of $50,876 in 2007. The credit card co. accepted $26,000 as a settlement for full & final payment. At the end of the year they sent me a 1099 showing a debt discharge of $60,268 to add to my income tax filing. When I inquired they told me once you default on a credit card they raise the interest to 29% + a monthly fee of $78. This gives them a much higher debt loss reimbursement from their insurance co. The bank WINS BIG TIME, IRS WINS BIG TIME & the DEBTER get the screw job owing more than the original debt. Who can help me find a consumer agency that will help me do battle with the BANK OF AMERICA. Need some help to a small consumer under water from debt.
    JK

  • Whitney says:

    Please help. I made a few mistakes and my credit report is blemished. Since I couldn’t get a regular credit card, I did find a company that would give me a $300 credit limit for $59 a year fee and a high monthly percentage for purchases. I took the deal since it was all I could get. I faithfully paid everything and am in fact excellent about that part. Now a year later I asked if they could extend my line of credit. They said (after me being a customer for one year and being excellent with my payments), they said they would extend my credit limit only by $100 AND I would have to pay $30 for this luxury. I told them “no”! and right now I am going to try to pay off the $89 balance close the account right away because I am so hurt. Does this sound like a good company to you? It is Orchard Bank which is run by HSBC Bank. I feel so hurt to be treated this way afte I was an excellent customer for one year. Thank you!

  • Jordan says:

    I have a few credit cards that are maxed out and one that has a lot of room left on it. I am trying to pay my cards off but can’t seem to quite get by without using credit at least a little each month. Am I better to use the one card that has a lot of room on it and completely STOP using the others so those balances will start to finally go down ? I have been trying to spread my spending across all the cards to keep any ONE card from having too much balance increase, but I think it may be the wrong approach and might be better to have only one that is increasing while all the others are going down.

    Please no lectures about spending. Although I WAS frivolous in the past which is how I got into this mess, I have cut my spending SEVERELY and within a couple of months I shouldn’t need to use credit at all. I’m just looking for the best way to distribute the spending until I get to that point.

  • John says:

    Due to a below-average credit rating I opened two credit cards, which charge monthly fees. I did that in order to improve the score. Due to me not using them I am fed up about paying those recurring fees, literally for nothing. Should I close them to save the fees or will that hurt my score even more?

  • Marcia says:

    i would like to know what is a good apr rate, and what does apr mean? is that the interest?, and i’m new to credit, anyone know a good online place where to get a credit card like mastercard, discover, american express? thanks
    i dont want mean answers please………and if you do, your probably the ones who are thousands in debt

  • Kurt says:

    So my credit score is something like 562. I am looking to get a credit card with something like 2000 dollar limit or lower that wont have unbelievable fees. Does something like this exist? I’ve applied for credit cards over the last year and have been denied each time. Yeah, my credit sucks. What can I do?

  • Dwight says:

    I have tried to open a Student Account and have been unable to do so because of my bad credit rating. The only contract I have ever had is one with Virgin mobile where I fell behind with payments and now owe them £229. I’m going to pay back Virgin in due course however when will my credit rating be ok again so I can open a student account and receive an overdraft? Thanks guys

  • Luna says:

    We are a married couple, both are 32 year old, we lost jobs 2 years ago & came up with $125k unsecured debt. Now both are working & our monthly income is around $6k before tax, which is $4500 after.
    Our expense for home rent, car payment, … is about: $3500. So what remains is $1k to pay minimum payment of credit cards, which is much higher than that; however we do not have any late fees so far.
    We do not want to go to any program that affects our credit scores as both of us now have professional jobs with the very good income potential in 6-10 years from now.
    We have been thinking of the followings:
    -Enrolling in a debt consolidation program & pay $7k over 3 years instead of $125k in the cost of our credit
    -Enrolling in a “hardship” program & pay $155,k ($125k + interest) over 5 years & save our credit. (monthly payment 3K)
    -Finding another better way!
    We would appreciate if somebody tells us which of the options is better for us & why?

    With warm regards,
    Simon

  • Isaac says:

    I am trying to get a no document loan because my landlord isn’t cooperating with the Mortgage Comp., and they suggested I apply for credit since I don’t have a open line available and that will boost my credit score higher, how correct is this.
    I have already been approved for a VA loan, credit is not an issue, the problem is my landlord(verifiying tenancy), she doesnt wants to cooperate so easily, and my lender suggested to get a credit card to raise my score high enough to bypass my landlords verification.

  • Estefana says:

    With these tough economical times it is harder to get 0% balance transfer credit cards for high amounts. One of mine is about to expire and the payments will be out of control. Any ideas on how to remedy this w/out destroying my credit.
    Secondly, if I have cards that have a high loan amount but I am not using it .. is it a good idea to call the CC company and have the limit lowered? I was told doing this and cancelling cards I no longer use will negatively effect my credit? thoughts on this?
    Please only respond if you are educated on these matters as credit is very important. thank you

  • Darci says:

    I have over $30,000 in credit card debt and am in a world of hurt!

    My current job has weird hours. The hours are all over the place and it makes it impossible to get a second job. No one can/will work with the hours. I have been searching for a new job for several months now and still no luck.

    Just recently, applied for a job and the boss loved me. Did a credit check and of course i did not get the job because my credit score is terrible!

    I need help! how do i work on improving my credit score when my job does not pay enough and i am unable to get a second job and no one will hire me because of my lousy credit score

  • Mariella says:

    Was out of work for a year (well only casual work for agency) only earned $15,000 so stacked up the credit Card bills as single mother (widow). Now working casual call centre so good money and want best way to get down debt. Can not consolidate as credit bad now & now more help. Can afford $200 a week if I really try, so do I pay $40off each or minimum off lowest interest & rest of high. Or pay off low and balance transfer high????

    Have 5 Cards paying off (now all cut up – only use cash)

    $7,000 @ 20%
    $4,800 @ 19%
    $2,730 @ 18%
    $3,657 @ 11.5%
    $5,750 @ 11.8%

    Help I feel like im drowning
    thank you in anticipation. :(
    Should have said am in Australia.
    Not entitled to social security as I earn over $600 a week with no dependants under 18. I no longer use any cards, have rung and closed accounts. But doubt if anyone would give me 0% transfer balance as was in the p– for 6 months real bad. Thanks for all your help Lauren. Yes take lunch to work & catch public transport & make a lot of soup, eat a lot of noodles, cut my own hair & dye it & only eat meat once a month. Dont buy clothes & shoes execpt in op shops. Pretty proud how u can live on a budget. PS pay rent. Not buying never will. Had to start again at 42yo as lived with a gambler. thanks for all your advise.

  • Darci says:

    I am only 20 and I have 2 debit cards. my credit score was messed up on my RBS one with my phone contract, i was silly and didnt fully udnerstand phone contracts when i opened one. now will that credit rating be on my santandear account aswell or will it be on 0 score if you understand? will it be same on both? any help please

  • Carlie says:

    My credit score is in the high 700s. How will closing the cards effect my score and for how long? The 2 cards I am going to keep are my two oldest cards.

  • Karly says:

    1. How do you establish credit?
    2. What is “credit rating”?
    3. How do you find your credit rating?

  • Terri says:

    I need a little bit of help and can’t seem to find any financial institute to help me. I have several credit cards that I have been paying on. Some of them are current, some of them are a couple months behind. I went to my bank to try and consolidate, but they aren’t willing to help because I have a mortgage payment and they are saying my debt to income is too high. I don’t mind to find a place that has high interest rates, because I plan to pay it off by the end of the summer. Any ideas where to go? Any help is appreciated! Yes, I know, credit cards are a HUGE mistake, but I am trying to get them taken care of!

  • Masako says:

    My sister has 6 credit cards to pay off(A”$1975″,”$7683″,”$3700″, “$700″, “$400″, and a “$500″). She maxed them all out and maxed out MY BEST BUY CARD. The minimums on eat cards are extremely high and late. One of the minimums is up to 900 dollars. I don’t know how to help her. She does not have the money to even pay the minimum. Her job only pays her $7.40 an hour and she works 40 hours a week. She can’t get a second job because it is very rare to find a place that is hiring. Her credit is now in bad shape and she tried to get a loan from her bank and other place but she got declined. What can help her? She really needs some advice.

  • Yu says:

    Hey some-one can help me..!!! I need to establish credit… ¿ what it´s the best way to start?
    Need help soon
    thanks a lot
    best regards

  • Rickie says:

    When i was 18-20 I had a credit card and misused it badly. for a year I ignored the bank trying to get their money. I eventually realized how bad this is and have now paid off the entire balance. I am now 22 and would like to get a new card since I am trying to start my life outside of college. I paid the card off for over a year so I could have a long history of making good payments. I have tried for cards since it has been paid off but have no luck (which I understand). I am scared to try too many times because I hear that can effect your credit and I hear checking your credit too many times is bad. How long until I can get someone to trust me again? Besides this I have other things on my credit that are all good.
    Is there a way I can get my credit score for free? I’m still worried about how often my credit has been checked in the last year.

  • Daniel says:

    I’ve heard that if things keep going downhill with the economy, is going to be hard to get credit. So, if I have a credit line of lets say $20,000, but I never let my balance go over a few thousand, could they lower my credit line to what I actually have been using? I’m worried with how things are lately I might actually need those $20,000 some day, but they might not be available anymore if credit cards decide to tighten their belts. Should I just pay the minimum and keep a balance so I have cash in case I need it and I can’t count on my credit card?

  • Ernesto says:

    With a very high credit limt. I just found out they will charge me an annual fee of $29. If I close the credit card how much damage will it do to my credit history. I only have 2 credit cards in total BOA and citibank. currently my credit score is spotless and clean. I carry $0.00 on my credit card as balance
    This card was used to pay off school, now that I’m done finshed college, I see no point to pay BOA 29.oo for this new policy

  • Fletcher says:

    HELP…I need to find a credit card company that will offer me a credit card even with my bad credit. A few years back I was 30 days late on paying two small bills. Both reported me to the credit agencies and now I have marks on my credit report. I never had anything big in my name…house, car, etc. My house is under my husbands name, and my parents co-signed for my car years ago…my car is now paid off. I have one major credit card in my name, and we pay it each month on time. Why am i having such a hard time getting a credit card company to approve my application. I deserately want another credit card in my name, Please help. Are there any credit card companies out there, that will offer a credit card to someone with little or bad past credit….thanks

  • Darnell says:

    I am sinking in an ocean of debt and currently hold 2 credit card accounts that are nearly maxed out. I have not made purchases on one credit card in over a year and now owe more than $1000 on it above and beyond the current balance, simply because the interest rate is adding up. I can not seem to get ahead on this card no matter what I do.

    On my 2nd card, I have used on occasion for emergencies only and now I am also struggling to pay off its balance. With little to no help financially, I am at a loss as to how I am going to pay these cards off. Does anyone know of a reputable company that can assist in such matters? Please, they must be in the US with a valid phone number. Thank you.
    Also, I do not want to gain another credit card by using the 0% APR for 12 mos. trick…that is how I ended up with 2 cards….I just want to pay this debt off. Are their companies that can help lower the interest rate without compromising my credit score?
    Thanks for the tips so far. I guess I failed to say that most of the debt was incurred due to a business operation that I ran from home and when the business began to fail, my espenses piled up resulting in closing the business for good. I just wanted to make it clear that I didn’t just use these credit cards on a midlife crisis or an ill planned shopping spree. This was debt incurred due to problems beyond my control at the time. I don’t expect a pardon and I know I am responsible to pay back this money, however it is extremely difficult to do when payments made are anywhere between $50 to $100 more than the minimum payment due and the interest fees tally up in one month to equal more than the payment sent in originally. I hope this made sense. I just need to be able to see a little light at the end of the tunnel. Counseling? A loan? Money Transfer?Whatever? I just want to know what will work best. Thank you.

  • Nola says:

    I have one major credit card and two store credit cards. My score is average, 662, and my card limits are low. My fiance and I are trying to build up our credit scores over the next 2 to 3 years so we can apply for a home loan in 2012 or 2013.

    My bank is offering me a credit card. So is one of my favorite stores. I know the average American has 5 to 10 credit cards, but I don’t want to stretch myself too thin and end up ruining my credit score. Will having 3 store credit cards with low limits and 1 major credit card hurt my score? Or help it over the next few years?

    Is it true that every time you open a credit card it takes 20 points off your score?

    Thanks!

  • Malcolm says:

    I had a free credit rating recently from one of the most famous online places Ex…… I joined up for the free trial because i started up in business 18 months ago and still find it hard for companies to give credit to me. I have an excellent past with no unpaid debts or contracts whatsoever.However I was shocked to see I only just had a good rating,with the basic needle guage just hovering above average.Now this is the shocker they only had ONE of my credit cards(I have a business one in my name as well!) They did not have my current phone contract-only had listed a vodafone one from 3 years ago,they had the number of bank accounts wrong,and finally had the amount of monies i was outstanding completely wrong! Heres the funniest part-I immediately tried to end my free membership,and got questioned “why” I was leaving,I explained my information was wrong,They then said if you stay with us we can update and ammend the information!!So I pay a monthly fee to update my own credit rating to its correct status! I just said no thanks and terminated.But heres the thing I have been advised that I made a serious error,and I should have infact stayed with them to correct things and get my rating on track!! What do you,or anyone with any experience of this think?any input would be helpful.

  • Odell says:

    I have about $16,000 of credit card debt on four different cards with APRs ranging from about 11 to 14%. I am not working now but have a job overseas waiting for me starting some time in March. Could one of these credit card debt consolidation companies be useful for me? I’ve seen the advertisements and their claims that monthly payments can be reduced, but would this raise the overall amount I will pay? How could one of these companies be of use to me and how could I go about finding a good one? Any recommendations for a particular company? Thanks in advance.

  • Daniel says:

    we like to watch clark howard on tv which is on saturday mornings. i tried to find where he talked about that if you don’t pay your credit card company for 6 months, they will default you and then be willing to negotiate you on your outstanding balance.

    the credit card companies have “raped” us with all of their fees, interest charges and can change the terms of the contract at any time and the consumer is left holding the bag.

    years ago, you could call the credit card companies and they were willing to reduce interest to keep your business, but now, say no and continue to charge outrageous or almost usury interest on outstanding balances.

    who would guess that credit cards 10 years ago could charge the consumer 29% interest? or that even if you paid your balance in full, they would penalize you with lower credit limits or increase your interest if you were to pay a card late, especially since they keep changing the date owed per month and then get you by surprise.

    if anyone understands how this works and what are the repercussions, please inform me. my sister is in this mess and i would like to help her.
    i agree she messed up royalty. she is self employed and had to use card to pay to keep herself in business sometimes or lay off employees.

    the problem is that she is being charged 29% interest and even paying more than the minimum, she may have to file bankruptcy and close her business and lay off her employees.

    she wants to pay off, but at a rate that she can pay. the credit card companies refuse to lower her interest and she is looking for ways to negotiate.

  • Morton says:

    I was in Victoria’s Secret the other day and a woman approached my wife and I about getting a card where we would get special offers every month, this sounded good but I later found out that this would be a credit card. The woman told me I would receive it in a week. I do not a want a Victoria’s Secret Credit Card, I haven’t used it yet as I have not received it but do not plan on using it at all. Will cancelling this card hurt my credit?

  • Etha says:

    I was declared bankrupt about 4 years ago and discharged 6 months later. Since then I have had a current account which I have been running in good order. However, I recently tried applying for credit and was refused on the basis that there was still some issues with my credit rating. Is this due to the bankruptcy still? A friend told me that I needed to obtain something from the court stating I was bankrupt in order for me to be able to apply for credit again, is this the case?

  • Kendrick says:

    I make 50K a year, I got mortgage, car payments, the normal bills.. right. I have no problems paying all my bills and even pay a little more than the minimum payments on my credit cards..
    I ask this.. I hear radio ads about if you have 10 k or more that they can do negoataions with the CC companies to settle or reduce amount owed.. is this for people who are late/deliquent/collection accounts?

    I feel burdoned by this 20k in CC debt.. what is best way to chop this crap down. I hate making a $200 payment and half of it goes to interest… Right now i am making min payments on the lower 4 interest baring card.. and the highest one I am making like 3 times the min payment.

    How can one get approved for a DEBT consolidation loan.. i have my balances maxed, credit score is like 650, and I feel i make great money but have a really strict budget and no room for anything.

    Any advice..helpful words, experience, resources..
    Help guys! Thanks community

  • Rodney says:

    We have about $22,000 in credit card debt. I am unemployed. We are now living solely off my husbands income (about $80,000 annual). It is getting very difficult to pay down our debt. It is hard to make payments on time, making it seem nearly impossible to ever get out of debt. Has anyone heard of using companies like Money Management International (debt counseling organizations) to consolidate and pay off credit card debts? If so was it a positive experience? how will it affect our credit? or should we just keep trying to do this on our own. Any help is much appreciated!

  • Lora says:

    My husband and I were preapproved for a mortgage about a month ago. By preapproved, I mean, we sent in a bunch of documents, and got a preapproval letter, and everything. We finally found a house we love, and put an offer in. They accepted!
    Then tax refunds came. I immediately paid off all credit card debt. Then, I called and closed a card that has a really high annual fee. Apparently, that wasn’t so brilliant. After some research, I see that it can actually hurt your score.
    Now I can’t sleep at night, because I keep thinking about us going through the inspections, and appraisal, and everything else just to get denied our mortgage because of my stupid move.
    Should I call and re open the card? Did I ruin our chances of getting a mortgage now?

  • Nellie says:

    i have 5 credit cards that add up to 4k. i went through a really harsh part in my life and got ahead of myself with the credit cards, basically most of them are in delinquent status. i have the 4k to pay them off now but do you think i should bother paying it or just wait until it comes off 7 years from now?

  • Teresita says:

    I have three credit cards (actually four). I have a Best Buy rewards zone card I’ve had for almost 2 years (I’ve had it since September 2009; it’s used for in-store purchases only, can’t use it outside of Best Buy) and a Best Buy Mastercard (I’ve had it since September 2009; it can be used anywhere). I have a military star card (I’ve had since 2007; it’s used only on military stations) and a military citi card (I’ve had every since 2007 also; used only when traveling if need be; but I don’t use it and never have). So, I want to apply for a new card and transfer my balances on the two I use or transfer two balances and half of the other. Is that smart to do? Or will I be messing up my credit score. I’ve been researching it and I’ve read that it won’t affect my score but can be a positive on my report. Or am I getting myself into a load of trouble. I plan to have these paid off by December 2011. But don’t want to close the credit lines.

  • Alma says:

    Today I found out that my credit score is 770. The reason why my credit score is high is because my parents co signed ro me to get a car loan. Today when I went to apply or a credit card I got rejected. I don’t make alot of money. My question is even though I have a high credit card and becuase I don’t make alot of money is that the reason I got rejected? Is there any way I can got my own credit card since I don’t make alot of money

  • Carlo says:

    Hi, I have about £20,000 credit and using £10,000. I wish to cancel a card with £3,000 as there are no promotions on it, then open another one elsewhere and transfer between £3,000 to £,3,500 in May or maybe by August. If I cancel the card with £3,000 now, will it increase my chances of getting credit elsewhere and how soon will it take for ‘the credit record’ to update so the new card application will be more likely to accept me?

    Details:
    Card 1 (wish to cancel) £3,000 credit, balance £0
    Card 2 £4,600 credit, balance £3,900
    Card 3 £3,650 credit, balance £3,480
    Card 4 £4,400 credit, balance £2,525
    Card 5 £663 credit, balance £656

    Plus 2 others cards with credit limits of £2,200 on both and balances of abour £1,000 on each which will be paid off next month.

    I have never missed a payment.
    All cards are 0% interest. Thanks

  • Abe says:

    my credit rating is poor, what can i do to get a credit card?

  • Chester says:

    I’m trying to improve my credit rating which is 628. One of the problems is that I have no revolving credit. I’m thinking of getting a credit card with a low limit and low interest rate to improve it. If I get turned down it will it hurt my rating and is 628 good enough to get approved for a credit card?

  • Dave says:

    I worked my butt off to pay down my credit card with a 5,000 limit. When I got a bonus from my job I sunk nearly half of it into paying off my credit card. I felt awesome because I had reduced my debt to available credit on the card and had some emergency money that I could use more wisely this time around. Today, I found out that they reduced my limit to right above my balance left on the card. Now my debt to credit available ratio is close and I just gave away half of my bonus money for nothing. I don’t mind them cutting my limit, but I would have rather had them cut my limit before I paid the bank all of this money that is no longer applicable to my account. What can I do?

  • Georgette says:

    What is the best kind of credit card to apply for?
    I’m confused on the whole “purchase APR” and “Transfer APR”

    if someone could explain that would be great.
    I just need a little help.
    the card that I want to apply for says “13.9% Transfer APR and Purchase APR”

    explain that betterrrrrr??

  • Garland says:

    I have 6K credit card debt. 7K in Roth IRA. I am up 34% in Roth IRA.
    Is it ok to move back home to pay off student loans, car, and credit cards? Thanks for your help.

  • Hilde says:

    Member since: April 21, 2007
    Total points: 3,982 (Level 4)
    Points earned this week:
    –% Best answer

    ♥Juana♥
    S Shared Loan Info..?
    If I get a loan with my BF for $1500 and I have great credit is credit isnt, will my credit grow as we pay on it, or will it go down immediately because im taking on his low rate. He is good for the 1500 but im talking about in terms of my credit rate with me being the primary holder. Once its paid off, will my credit be better than before , or not as better because of his credit?

  • Loren says:

    It seems like every week one card or the other offers zero percent on balance transfers. Since the amount I owe is below the credit limits on all my cards, I have considered just moving the debt between the cards I already have as I pay the total off (not opening new accounts, just shifting the balance back and forth). If I did this 2 or 3 times, I could eliminate the interest altogether for the time it will take me to pay off my total balance.

    Would this negatively impact my credit rating?

    Are there any other hidden costs or problems?

    Any helpful advice greatly appreciated.

  • Luke says:

    Let’s say…

    -1 is bad credit rating
    0 is normal rating
    1+ is good credit rating

    my question is… if I have no credit card and I pay all my bills on time, will I get good credit rating (1+) or just normal credit rating (0) ?

    Does it actually make our credit rating better to have a credit card?

    Cause, I’m actually a kind of person who doesn’t really like to borrow other people’s money…

    Thank you for all your answers! much appreciated.

  • Terri says:

    I have a credit card I hardly ever use because of the high interest rate. I do not owe anything on it and I have another card in good standing. If I cancel the high interest card, would that impact my credit rating, positively or negatively?

  • Cherise says:

    I’m 19, and I have a pretty bad credit rating, what can I do to improve it?

  • Donnell says:

    Hi, a question from Australians only. What are the consequences after you damage your credit rating.
    Example take a personal loan, or credit card and fail to pay back due to any reason.

    Question 1: Is it still possible to get car finance or any other loan while your payments are outstanding.

    Question 2: Is there any time duration after which your history could be wiped off.

    Question 3: What if the amount owing is too big to pay it back, and one declares himself bankrupt, in that case would he/she be able to start a new credit rating ?

    Question 4: In short, what are the options of getting loan/credit card/car finance (apart from paying the owing amount back) when one has a bad credit rating,

  • Connie says:

    I turned 18 4 days ago and i want to start building my credit rating. i have been working for 4 years and have had wages paid directly into my bank for about 2 years. Yesterday my bank upgraded my account and approved an overdraft of £50, but i have been declined accounts with both Littlewoods and Choice catalog. My plan was to buy something cheap and pay it off evrrty month just to start building my rating.

    Does anyone know how i can start building my credit rating up? If you recommend a credit card, which one should i go for?

  • Hubert says:

    I just checked my credit report, and it’s a 589! It said I have 0 negative items, and 27 items in good standing. About 10 out of the 27 items were student loans that added up to about $25,000, 2 of the items were credit cards that added up to $5000. I’ve never been late on any payments, and I have no idea why my credit rating is poor. Is it because of the ratio of how much I have in comparison to the lines of open credit?? Like, if you oh more than 50% of all your lines of credit, does that knock it down? I’m going to be paying off these credit cards very soon, how many points do you think it will increase once I pay them off? Thanks
    thanks wizip for completely NOT answering my question.

  • Rayford says:

    I want to apply for a new credit card from my bank but I want to know what information and rules I should take care before applying it. What is the advantages and disadvantages? My bank is an Indian Bank so that I would thanks all If i get answers from Indian citizens and they are expert in banking :)

  • Devorah says:

    like how can i add positive tradelines to my history?

  • Lettie says:

    I recently got a credit rating report and ther were qute a few things still on there that I had paid off years ago. I still have quite a high balance on a catalogue and a store card, plus lately have been overdrawn quite alot due to companies taking cheques out two weeks later than expected which means that I have become overdrawn and had several overdraft charges. Reason I am asking whether I can improve my credit rating is because in the next year or two my partner and i are looking to buy our own house and don’t really want to get knocked back due to my credit rating. Which we did not so long ago. I am making regular payments, high payments than the minimum to try and get things paid off. I also would like to know is, say in a year I manage to pay everything thing off and all balances are 0, will my rating improve and be able to get a mortgage?

  • Kevin says:

    I’m 45,000.00 in debt, but everything is current on my credit report. no collections or late payments. i can only afford to pay the minimum. i’m afraid that i’m at risk to going into collections soon. I got infomation about credit solutions but they will most likely destroy my credit before my debt is completely paid off. is there any one that can help me besides credit solutions?

  • Anja says:

    Ive never had a phone on contract and i’ve never had a catalogue. These are the things i want to get but can’t because of no credit rating.

    I do pay a virgin phone/internet/tv bill each month.

    I need to know what to do, to get a credit rating??

  • Loren says:

    Does your address where you live affect what kind of credit rating you have? And if someone just used a parents address would the banks know if you asked for a mortgage or such like?

  • Jacinto says:

    How does increasing credit lines on my credit cards affect my credit rating?
    * Assuming of course I pay all the balances off clean each month. I should rephrase to, “how does having higher AVAILABLE credit affect my credit?”

  • Lupe says:

    The college I’ve been accepted to has two fees that aren’t covered by financial aid: the enrollment fee of $225 and the housing down payment of $250. My family is low-income and while over a period of time we could easily pay those two fees, coming up with them altogether at once is a bit of a struggle. I know that over time we will be able to pay back all $475, but the fee due dates are in the beginning of May (in about two weeks). My mom and I decided that it would make the most sense for me to get a credit card in my name (she has poor credit) and pay for the two fees on that credit card, and then pay off the fees over the summer. I wouldn’t use the card for anything else unless I had cash in hand to pay it off. This seems like the best idea because we cannot afford the college fees as of right now and paying off the credit card would help improve my non-existent credit score. So my question is what credit card company should I use and what are some of the better rewards that I should look for in my quest to find a credit card?

  • Jarred says:

    I am only 17 right now and don’t plan on getting a credit card anytime soon, but in the future to get cars and loans and such you have to have a good credit rating right? So if I don’t want to use a credit card but want to build up a good credit rating, could I just buy a few purchases every once in a while I know I can pay off and pay off it when I get my bill statement for that month? What happens if you pay the minimum the first month and pay it all off the 2nd does you credit score go down? What if you have a card with no interest for 1 year and buy a lot of things and pay them off at the end of the year, but not at the end of the month you bought them within, would your credit rating go down then?

  • Edmundo says:

    I opened a credit card 6 months ago because it had a $200 reward after my first purchase. I opened the card, bought something worth less than 5 dollars with it, got my 200 bucks, paid my bill on time and haven’t made another purchase on it since.

    My question is: will it hurt my credit rating to close this card? The majority of websites claim it is a bad idea to close a credit card for two reasons: “They will eventually fall off your credit report” and “You will hurt your utilization measurements”. Neither of these reasons apply to this credit card since I never used it.

    Note that I’ve never done this before; before this I only had one credit card that I made all my purchases on. I’ve heard that having too many credit cards can hurt your score so I thought it might be worth noting that this is only my second card. But I’m also curious if it would hurt if I did something like this multiple times.

    Informed answers only, please. Also, if the answer is yes, please offer an explanation. Also, some general insight on whether it’s a good idea to open cards strictly for rewards would be helpful.
    @Artemisc, by your logic, it would be good for my credit to open as many credit cards as possible. Certainly this isn’t the case..?

    @Texasred, are you implying that my credit score will be negatively influenced by having opened the card at all? Meaning my credit score would have ended up higher had I not opened the card in the first place?
    My current debt-to-credit ratio is 13%. If I remove the available credit on that card and rerun the numbers it would increase it to 15%. Not a huge loss.

  • Emmett says:

    Where can I find online information on credit rating scores so I can see if mine is good or not?

  • Lesley says:

    I have two huge credit cards that need to be paid off, as well as two small ones. I was thinking about taking out a loan from my 401K to pay the small ones off and some of the big ones. It won’t pay them completely off. I am trying to figure out how the credit card companies calculate their minimum payments. I need to know this in order to figure out how much my monthly payments will be so that I can fit everything into my budget. It is hard because I can take alot out of my 401K but like I said it won’t pay the big credit cards off all the way so I still have a balance that I have to worry about, as well as my 401K loan payment. It is just really difficult to make this all work right so I don’t get in over my head. If anyone can give me some helpful advice I would appreciate it.

  • Geoffrey says:

    i can not get credit anywhere i have even tryed every credit card for ppl with no credit rating im at my wits end. do you get credit rating by owning a phone line?

  • Kanesha says:

    If I buy something with my credit card and go home and pay it off right away; will it hurt my credit rating?

  • Sandy says:

    What role do the credit rating agencies play in a bond issue?

  • Berna says:

    I had a delinquent credit card account that was closed on me. I just paid it off and now have no credit card debt. I have no other negative credit items on my report. Now, my only debt is a mortgage which is current, and a student loan which is current. Still my credit score sucks because I had this closed credit card account.

    How can I build up my credit scores again? I have heard that I should re-establish my credit with another credit card company. If this is true, which is a good company to start with again? Name names. I would like to one with a fairly good rate, but I’m not even sure if can get a credit card account because of what happened with my last credit card.
    Very important: Besides credit cards, what other steps can I take to improve my credit? Thanks!

  • Alden says:

    What credi card should I apply for? Or what KIND of credit card?
    I would like specific names of cards (i.e. Capital One Platinum, etc…).

    I have been looking into getting my first credit card and don’t know what kind I should be going for.
    I don’t have the best credit:
    Experian- 629
    Equifax- 605
    TransUnion- 629
    and I don’t have a long credit history. I tried establishing credit when I first turned 18 but found out I had a negative account from 2004 (I was 14). It took me THREE years (from 2008 when I was 18 to 2011) to get this taken off (and I’m sure it was taken off because it had been 7 years old (2004-2011) and not because of anything I did and all the letters I sent). So, I am a bit hesitant to apply for a card and getting denied and affecting my score- since I know every inquiry reduces a credit score by about 4 points.

    I would greatly appreciate any help!
    My annual income is $38000.
    My rent is $1100/month.
    Utility bills are about $300.
    I have a loan out through my bank that is intended to help raise my score (something about having a record of giving payments on time). That was for $1000, and I owe $625 right now.
    I have a revolving store account (Macy’s) that I RARELY use; I was told not to close it because it helps as a “long-standing” account that has been paid on time.

    What credit card should I be going for and what are my chances of getting it?
    I would appreciate any GOOD, LOGICAL, REALISTIC advice I can get from people who’ve had good/bad/okay experiences with credit cards.

    And just as an FYI, I do speak to my personal banker about it frequently, but I’m wondering what average people. like me, think I should do.

  • Kermit says:

    i need a credit card, not particularly much credit needed say £1000-£2000. i can handle the card just want to boost my credit rating from when i was younger. would like some sort of interest free period even if like couple of months.
    can anyone steer me in the right direction, thanks

  • Lora says:

    i just got my credit card and i’m wondering what this credit rating thing is all about, and how to keep my credit history good?

    and what not to do

  • Darwin says:

    I have a 792 FICO credit rating, but I’m also a credit “deadbeat”. That means I pay my credit balance in FULL every month. In fact I have a habit of using my credit card like debit, and going home and immediately paying off the debt via internet banking. The CC companies don’t make a cent off me, and I enjoy the 1% cash rebate I get back by doing this. Is this at all hurting my credit score? Should I even be worried?
    @Reena

    I don’t like the concept of “debt” or owing anyone anything. If anything comes up, I won’t ever need to worry about owing people money. I spend according to what I have.

  • Luigi says:

    I am 20 and looking to build up a good credit rating, whats the best way to improve it?

    Thanks

  • Josette says:

    I have just checked my rating for the first time online and it says that I am not at the maximum credit rating which is 1500 points. I have had no financial difficulties in the past and have paid off any overdrawn money on time. I have one credit card which I got about 3 months ago, and one debit card which i’v been using for a few years. I am 23. Does anyone know if anything lower than full credit rating means you have been in trouble, or if you must work your way up to the highest level of credit rating?
    I am located in the UK. My credit rating is actually 3 out of 5 while my credit score is something like 1100 points out of a possible 1500

  • Brenda says:

    I have about $33000 in CC debt and I am receiving a piece of inheritance from my grandparents that will allow me to pay all that off at once. I know I shouldn’t close the accounts, but how can I make sure the impact of paying off all the debt at once can be reflected onto my credit rating as I need to borrow money to buy a house?
    Should I call the credit bereaus and have them update information right away? I will be applying for the house loan about 2 weeks after paying all this off……something tells me that may not be enough time, but I have to make an offer on a house that is a fantastic deal at this time.

    Thank you!
    Downpayment will not be an issue as I will still have money left over from other means as well.
    How effective is showing the balance statements to lenders? I know the credit scores wouldn’t be updated, but would this help with loan rates?

    Thank you for your answers so far.

  • Carroll says:

    What tips can you give me for building a good credit rating?

  • Vanna says:

    Hi
    I’m 21, living with parents, full time and part time employment, have 5 years at the same address, never had a credit card or loans,no debt, have car insurance, a missed gym payment from 2004 (when I was 16) resulting in a letter from a debt collection agency and have savings.

    I have never had a loan in my life and have no idea (seriously think they should teach you stuff like this in school rather than Latin or other useless subjects!)

    Basically I’m looking to take out a loan of about £4,500. What with the current economic situation I’m a little dubious about this and have a few questions: If I apply and get turned down will I get a bad credit rating? What are the chances of getting a loan now, or is it best to hold off for 3 months or so? Is Experian Credit check useful? Who are the best for loans for people with no credit rating?! Is it best to apply for a credit card, to gain credit?!

    Like I said I have no idea!

    Thank you for taking the time to answer, it’s a MASSIVE help!!

    x

  • Hollis says:

    My credit card company ruined my credit rating (my fault I know!) how do I now go about repairing my damaged credit rating? Will I ever get another loan after this?? How long will it take?

  • Vera says:

    I know its rubbish but I would like to make it ok again. How can I increase my credit rating?
    I am based in the UK.

  • Ruben says:

    I recently got married and I went to apply for a mobile phone contract, I have no credit history under my new name and I wasn’t able to get one it was like I didn’t exist. My question is this, how do I start my credit rating?

  • Geraldo says:

    I am 20 years old and I want to unsubscribe from Setanta subscription sports channel.

    Now Setanta are infamous at trying to wriggle out of and delay subscription (google Setanta unsubscription and see the numerous tales).

    Now what people have said they’ve done is cancel their direct debit at the bank to force the unsubscription….But Setanta often respond with a threatening letter saying to reinstate it or we’ll damage your credit rating (obviously they don’t word it quite that direct).

    Anyway, seeing as I don’t have a credit card yet (i use debit cards), or have got on the credit ladder, can they ‘damage me’ credit wise if i don’t have a credit card???

    I don’t fully stand a lot of financial things yet. Can UK people answer please
    Well Setanta say to give them 2 months notice to subscribe. This i plan to do shortly in a letter. Then I am planning to cancel my direct debit if 2 months after the letter they STILL have not cancelled it. By doing that I can say I told them.
    There terms and conditions are that they have 2 months advanced notice of when you want to unsubscribe, so it’s not as if I’m pulling the plug and breaking a pre-approved contract. I am playing by the rules

  • Cory says:

    I just checked my credit score today and I’m at 729 with a rating of “fair.” How can I improve that to good or even great?

  • Melanie says:

    They say the U.S. may lose AAA credit rating what is that?

  • Marnie says:

    I am 19 years old and would like to boost my credit rating for the future, when I want to buy a house or get a mortgage etc.
    I am not sure what my credit rating is at the moment but am in part time work which pays very well. I would like to know any websites that would provide a credit rating for free which is easy for me to understand, and any advice on ways to make a credit rating or score better?

    Thanks :)
    I would also like to add in reply to Steve D,

    I am not very good with understanding about credit, but, I have no credit cards and live at home with my parents. I do not know what you mean by credit accounts. I have no overdraft on my account however I have gone overdrawn a few times.

  • Jackqueline says:

    I have an excellent credit rating with my own credit cards. I am an authorized user on one of my mother’s cards. She is becoming careless about paying hers on time. She refuses to let us, her children, handle her finances. She is extremely stubborn and will never change. Should I have my name removed from her card to protect myself?

  • Henry says:

    My husband and I would like to buy a house in the near future but have recently found out that I have a poor credit rating. When I was 18 I helped out my mother by becoming a 2nd applicant on a number of loans that she took out to get ahead. I was unaware until now that she has never paid a cent on these bills and they are all defaulted against my name including a few court judgements. My mother hid my mail and screened phone calls so that I never found out about it. It wasn’t until my husband and I started looking into homeloans that we found out. Do I have any legal rights in this matter. I simply did as my mother told me to when I was 18 and now I could be paying for it for many years to come and my husband and I look as though we will be unable to buy a house. We are expecting our first baby in Feb so this is rather distressing. ANY advice would be very much appreciated. THANKS!!

  • Shad says:

    I used to pay the balance of my credit cards but was always late. I corrected this problem and am paying them off as soon as I receive the bill. How long will it take to repair my credit rating and should I close all those credit cards that I no longer use. I was told the old accounts that haven’t been used in years don’t really count. Is this true or should I close them?

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