 Is having too many credit cards bad? |
| I like to take advantage of the cash back of major cards and coupons that many department stores give. I have about 8 different cards. Total probably around $20k in credit limit. Is it bad to have ... |
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 Where can I go to check my credit (FREE) online? |
Additional Details
I don't have an open bank account or any other subscriptions..
But I got a call from someone saying I owned an amount.. He wouldn't tell me ... |
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 Using debit card for bill? |
| Quick question everyone, When I use a debit card, Mastercard, to pay for pizza, will the card number show up on the receipt or no?, Thanks for all the replies!... |
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 I won 4000, 000, 000 US dollars ? |
hey ppl ... i got this e-mail telling me that i've won 4000, 000,000 dollars and my ID has been randomly selected... this is part of it
"Agent In charge of Your Region in C... |
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 College Student Needing Serious Credit Card Debt Help? |
| I have about 3,000$ in credit card debt and I am a student in college and I cannot pay off all of this while working very little in college. I can't get any loans either even with my parents ... |
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 Help!!! I have a question about what I should do regarding a credit card payment.? |
I have a credit card that I am already a month behind on. Next week the minimum payment will be two months late, but in two weeks I will be able to pay off the entire balance, which I plan to do.
... |
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 I have way too many dept store credit cards that i havent even used should i cancel them? |
| they are like Kays Zales Ebay Paypal card? i never will use them cause i have others but someone told me cancelling them was bad. ihave about 10 credit cards and i want to just close some will it ... |
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 Parents using a credit card issued under my own name? |
| Apparently, I get credit card offers coming to my house address even though i go to college outside of my state. My parents have basically forged my signature and created several credit cards under ... |
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 Where do i stand with my bank? |
| i stupidly co signed for a loan with my ex five years ago. I recently found out that my ex has not paid this loan for a year! instead the bank decide to go into my account and take out some money for ... |
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 Why won't they give me a chance? |
| I need a credit card for college, but I get turned down. I got my credit report, and there is no blemishes on it. Actually, there's not much on it at all. I also don't have the $200.00 to &... |
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 Cash Loans.? |
| Where can i get a cash loan, I have really bad credit and everywhere i have tryed are turning me down tryed prov personal credit and many others, At the mo i would even consider a loan shark, any ... |
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 How can I rent a car WITHOUT a credit card? 10 Points awaits the best answer!? |
I need to hire a motor on the 7 th August. Any ideas?
I only have debit card..
Thanks in advance
Additional Details
Sorry am in the UK!... |
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 What's the worst that can happen if you do not pay your debts? |
| How long does it take before they try to take you to court and how can you get judgements of your ... |
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 What exactly is "consolidating" your bills?? |
| I know this is sort of a dumb question, and I know what it means, they put all of your bills together for one monthly payment, but does it really help? or do they end up screwing you over in the end..... |
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 Asked to cosign a loan.? |
| A family member has asked me to cosign a loan to pay the IRS. If they default, when will I be notified? Will I have to pay it all at once or can I continue to make monthly payments. If they miss a ... |
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 Credit card charges what can you do to avoid them? |
| why do some retailers charge a service charge when using a credit card as the transfer sometimes just takes ... |
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 Serious, honest answers only? |
| If I were to finance a $15,000 auto loan with a term of 66mths now will that hurt my credit in, say, 3 years when I try to get a home loan?? What am I saying is is will the lending institution look ... |
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chanel | Credit card debt advice please? |
I am in $4000 credit card debt. I am planning a budget, but keep on changing my mind about what to do. Should I pay minimum payment On the cards and save as well so that if I end up out of a job for some reason, I have some rainy day money or should I just put all the money I have after bill etc onto the debt. Thanks |
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Everard G
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You have two choices.
1. Pay it off in the fastest time thereby reducing your interest charges.
This way you will always be able to get another card if you want.
Credit cards are the biggest rip off as you know.
2. Get a court order order/arrangement that you pay it off at $20 a fortnight; plead hardship; the credit card company will 'write you off' and stop charging you interest. You may have to exaggerate your financial commitments. The chances of your EVER getting another credit card again will be close enough to zero. This is NOT a bad thing; it's where I am at.
You've heard of the triple A credit rating? Mine's a triple Z.
~
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gracefull
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Get out of the debt as fast as you can...minimum payment will keep you paying probably $5,000 for the $4,000 that you borrowed. |
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R T
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Pay off the loan as quickly as you can, then save.
1. The longer you take to pay off the credit card, the more the total cost will be. Paying the minimum is never a good business practice.
2. The interest rates on credit cards are almost always higher than on a savings account. So whatever you have in savings will not gain as much as you will lose on the remaining credit card debt.
3. If you lose your job, you will still have the debt hanging over your head. |
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bcyouletme
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The amount of interest you pay on your credit card is most likely more than a checking or savings account will pay. Making minimum payments may only pay the interest and only a little principal. Pay off the highest rate debt first....or, if you have a small bill with a high monthly payment, pay that off and apply that payment amount towards the credit cards. Good luck. |
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doreen k
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Paying the minimum payment will take you up to 40 years and cost you thousands more in debt repayment over that time period.
Instead, set aside $1,000 for an emergency account and then pay as much as you can on each card.
Once you have paid off all the credit card debt, put the same amount toward savings until you have six months' of expenses saved. |
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In_His_Grace
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Having been in debt myself, now out of it, is by paying as much of the balance as you can now.
Making minimum payments does not help for quintessentially you are paying the interest.
I you are able to pay this down in three payments:
1st payment) $1333.33
2nd payment) $1333.33
3rd payment) $1333.34
The will help substantially.
Here are some tips that may assist you:
- Spend money on what is neeeded rather than wanted
- Use your credit card with the knowledge that you WILL be able to pay it off when the bill comes in
- Limit yourself to 60 or 80 dollars for spending money
Hope that helps you!
All the best! |
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Shasta
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Pay off your credit card debt first. No savings account is going to pay the interest that you are paying on your credit card. You might want to consider taking a second job to speed up payment. |
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jmasscotte
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Pay it now or you never will! |
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bearr41
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Save a baby emergency fund ($1,000) then put all your effort into paying off the debt. |
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Felix R
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Check this out. It really works. http://www.u1stfinancial.net/reznik |
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William
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Do you have reason to worry about being out of work? If your job is secure, I would save a minimal emergency fund, say $1000-$1500 and then pay off the credit card debt as quickly as possible.
If you're not sure about your job security, you should save a bigger emergency fund - 3 to 6 months living expenses ideally - before you really focus on the debt. Once you have your emergency fund, put every extra dollar you can towards the credit card debt.
And of course in the meantime you do not want to charge anything else on the credit card.
Just don't save money thinking of it as an investment - use it strictly as an emergency fund. You're most likely paying a lot more interest on the credit cards than you could ever make on any savings, no matter what you invest it in. Paying off your credit card debt is essentially a guaranteed investment. Whatever interest rate you're currently paying is what you'll "earn" on your money by paying off that debt.
Getting your budget worked out is also important. There are probably things you're spending money on that you don't absolutely have to, if you really start looking at your finances. Even if you can come up with an extra $50 a month to pay off your debt, you'll get rid of it a lot faster. |
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sunshinegirl
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I would say you should save enough emergency money before you start putting a lot of money into credit cards.
I heard that it is good to have 3-4 months worth saving.
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jherder2
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cut up the cards and follow your plan. |
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shattycakes
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I would pay the minimum to save what money you do have in case of the worst. You might even open another credit card and transfer your balance because sometimes by doing that you get no interest for awhile. good luck honey! |
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