what should I do about my credit cards?

[Smartidiot]

Originally Posted by G35 Mass

Have you ever been late on a payment over 30 days? While running them to almost max, it wont SERIOUSLY effect your credit, and your payments over the minimum on time every month will far outweigh it. If you're not late or going over your limit, you probably aren't in that bad of shape.

When I was overloaded with credit, I worked on paying one at a time. I started with the one with the smallest balance. I got it paid, felt like I accomplished something, then went on to the next. If you have one card for 6k and two for 1k, trying to pay down that 6k will feel like you're getting noting accomplished. Paying down to completely will make you feel a TON better about tackling the last, biggest one and you'll be able to pay more towards it since you don't have the other two payments each month.

Guess you must had given out a lot more speeding tickets while paying off your credit card debt... like all cops do when they are as*s-broke.

[WhosRich]

Will consolidating your credit card debt hurt your credit score?

[Birdhouse]

Originally Posted by WhosRich

Will consolidating your credit card debt hurt your credit score?

It may raise red flags to the loaner that the person borrowing/consolidating is close to a financial breakdown, thus, the reason to consolidate. However, as long as the person in debt pays off without any late payments and achieve higher than minimum payments the consequences should be minimal.

I would rather lose a couple of points on my FICO score than to deal with the long term consequences of paying off high interest. I am assuming the op must be paying at least $60 per month on interest. Slightly less each month as the balance diminishes.

High interest must be dealt with immediately.

[lostsk8r]

Good information here, good luck to the OP, currently in the same situation, about $13k on partying and girlfriend /hide but yeah im working it off, going to check out the consolidation stuff, good thing for me is my parents can pay it all off and i can pay them back to avoid interest if i convince them =0 althought not sure about finding a card to take all that 13k.

[One_Hertz]

Take a credit line and pay off your CCs. There is no need to pay 19% interest when you can pay 5%.

[lostsk8r]

I'm pretty sure my credit's gone to ****, been late etc so I doubt I could get a balance transfer high enough to cover the 13k or a credit line.. probably just pay em off as is I guess, maybe try to call and negotiate interest or what not

[smr514]

I know this might sound kind of irresponsible but ask your parents to help you out. if you are paying min. payment you are never gonna get that dept paid off. at least your parents wont charge you any interest i hope.

[5150DS]

CC companies will give you credit until you hang yourself so they can get the interest payments. I ran mine up to 60k, yes 60k. I had about 120k worth of open credit (4 cards with 30k each). I have paid most of it off in the last 1.5 years and am down to about 15k. I am fortunate to make over 100k a year so it is manageable, but I learned my lesson and won't do it again. OP, what is the interest rates on the CC's?

[G-girl]

Pay it off. Like one of the posters in here said, suck it up, get a weekend job, and pay it off.

Why are you driving a nice car and in college? Are you still living @ home?

I learned from my grandparents that if you can't pay something in cash, you can't afford it. This aside from purchasing a home.

This is reality. If you are living-large and you have nothing to back it up, it shows.

[smr514]

Originally Posted by 5150DS

CC companies will give you credit until you hang yourself so they can get the interest payments. I ran mine up to 60k, yes 60k. I had about 120k worth of open credit (4 cards with 30k each). I have paid most of it off in the last 1.5 years and am down to about 15k. I am fortunate to make over 100k a year so it is manageable, but I learned my lesson and won't do it again. OP, what is the interest rates on the CC's?

over 100k a year? wow what are you doing driving a G??? jk lol

[G35 Mass]

Originally Posted by Smartidiot

Guess you must had given out a lot more speeding tickets while paying off your credit card debt... like all cops do when they are as*s-broke.

Jealous much?

[G35 Mass]

Originally Posted by Birdhouse

If I recall, the credit check by employers is to gauge the person's personality towards money (financial responsibility). If your irresponsible with your own money, can you really trust someone to deal and handle money in a business? Their judgement comes into question. It's not the end all be all; I'd imagine with a solid resume, accomplishments, education, references, etc. this can be overlooked.

Also to gauge if someone is a higher risk to embezzle or steal from the company. If someone is over their head in debt they can't pay off, have accounts in collections, have defaults, etc., do you want to chance someone who is in a position to easily steal from your company?

[lostsk8r]

Originally Posted by 5150DS

CC companies will give you credit until you hang yourself so they can get the interest payments. I ran mine up to 60k, yes 60k. I had about 120k worth of open credit (4 cards with 30k each). I have paid most of it off in the last 1.5 years and am down to about 15k. I am fortunate to make over 100k a year so it is manageable, but I learned my lesson and won't do it again. OP, what is the interest rates on the CC's?

Ha, alright well Ill check it out, thanks.

[vhtran]

I skipped most of the replies and just want response to OP. If you can, borrow from your family. Parents are best, pay it off. Go find a part time job and pay them back slowly, but at least you built your credit with your folks too.

[jutn35]

Originally Posted by G35ftw

That's the sad part. I did get a couple of mods for the G, but mostly this is all from going out with the gf. I'm an idiot......

OOOOOOOOOh , ya theyll get ya, but good luck to you , its not the end of the world