 Question about credit card debt? |
Like many Americans these days I am having trouble paying my credit card debt.
The balance is $8,000 and I am having trouble making the monthly payments.
What is the best course ... |
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 Credit Card Advice? |
I'm 18 years old and beginning as a freshman in college in the fall..
Is there anyone out there that could recommend a hassle free good first credit card.
I just want to start ... |
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 Does it hurt my credit score to pay on my credit card more that 1 time every month? |
| I try to keep a zero balance. So, when I make a charge I pay it online usually the next day. Is this bad? Should I wait until the end of the month? --Thank You!... |
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 Is there a website I can go to see all my outstanding debt? |
| I think I did this once but I can't really remember. Is there a (safe) website where I can input my information and see how much I owe and to who? I think I have most of it taken care of already ... |
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 What is the best way to consolidate debt without using a line of credit? |
| I have only one negitive on my credit report, 90 day late payment on a student loan from 2003. The loan has been payed in full for over a year now. But, I am unable to get a line of credit to ... |
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 My cousin has been trying to get a credit card for the past few months, only to get rejected....? |
| She has no credit history, so its not bad credit nor is it good credit. What is the best way she can obtain a credit card, where can build on her credit? I remember when I was in college, they had ... |
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 I am in debt, should I ignore those creditor and collection calls; file bankruptcy; or try to repay the debt? |
| I am a 24 year old in California that is currently unemployed. I am a full-time student and have less than $1,000 coming in every month. I have around $15-$20k in unsecured credit card debts that I ... |
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 What is the best company/solution to consolidate my credit card debt with? |
| If I do not have a perfect credit score and I am past due in some credit cards what is the best company to consolidate debt with so I can make one payment?... |
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 How good does your credit score have to be...? |
| to get a $30,000 unsecured credit cosolidation loan with a decent interest rate? I dont want to start applying for loans if I dont have a chance.... |
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 What other things might stop me from obtaining a credit card? |
I'm both upset and confused.
My credit score isn't bad.
I've not lost a days work in 8 years.
I'm pensioned from the military.
I own my own home.
I can... |
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 My friend just turned 18 and wants to know how to get her own credit. how can she get her own credit? |
she wants to know how to get her own credit so she can get a new/used car and credit cards and such.
Additional Details
besides just getting a job ... |
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 Can Creditor remove derogatory information from credit report if you make a deal with them to pay the balance? |
| I have an old balance not payed on an acount listed on my credit report. I'm willing to pay it only if the creditor will totally remove the derogatory information from my report. Is this even ... |
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 How can i build up credit? can i get a credit card? |
| i started my credit with my cellphone but i've only had it for 6 months now and me and my husband are looking forward to buy a house but no one won't even rent us an apartment i was ... |
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 I have no credit and want a credit card but don't want to have to prepay for one. Know of one who'll accept me |
| I've tried capital one and they didn't approve me. I tried orchard bank and they wanted me to prepay for one. I don't want to do that. Know of one that will approve me and is actually ... |
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 How do I stop my mom from giving me bad credit? |
| She's been using my ssn to open accounts, and I don't think she's been paying any of the bills! I just got a letter from Sprint(in my name) and I remember we had Sprint a while back, ... |
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 Should i get my daughter a a visa card? |
| my daughter receives an allowance of ten dollars every 15 days and she either cant keep track of it or spends it as soon as she gets it. this happened with my other daughter so i got her a visa card ... |
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jmtmjw | Is it a wise decision to use student loans to pay off credit cards? |
I have no undergraduate loans at all and want to pay off my credit cards instead. I hope to pay off the student loans I use to pay off my credit cards before I graduate since I know I won't be taking out any other student loans for school.
Additional Details
How is it illegal? Basically, you are awarded student loans so that you can pay for living costs and what not while you are in college. I am lucky enough to NOT have to use any loans to pay for tuition/housing, etc. This would be the FIRST time I would take out a loan and it would be to pay off my credit cards, which isn't even a large amount and something I can pay off before graduating. |
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jen
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Yep it is a great idea. You can lock in student loans at about 3% interest. you have to pay it all back in the long run, might as well, take care of the high interest rates now, before they get worse. I did this with my student loans, I am still paying on them, but with an all time low interest rate, small monthly payments, and my credit is great .
Student loans are less expensive payments than most will lead you to believe. You can make a plan to pay it in up to a 20 year period. The interest is so low that it is not necessarily a bad idea, especially if you consolidate through a third party. I graduated with a masters a few years ago, I had 20K in student loan debt. I originally made high payments, but now I only pay around 120 a month, more when I have it........
My credit cards weren't that bad, but they were there. My credit was worsening because of debt versus borrowing ability, so I paid them off while I was in school. Think about it... You don't have to pay back until you graduate, and you are sure to get a better job than you have right now. It is the sensible decision. It is your money to use any way you need to, just make sure you can make it through the year, and don't take more than you need to get by. Good luck in school.
If you are paying back before you graduate, if you pick the right loan, there will be no interest at all. That is a no brainer. Pay off your cards. |
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PaymentKey.com
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Absolutely, you should pay off your credit card debt with lower-interest rate student loans.
Unfortunately, student loan interest rates go WAY up on 6/30/06 thanks to Dubya! It is imperative that you consolidate before then.
Myself, I am a grad and need to consolidate my loans before the deadline! So I went on a google hunt (I mean search ;). Eventually, I did find a site that has rated a few student loan consolidators, and says they have checked them out. Here's the web page: http://lendersrated.com/studentloans.htm...
Hope it helps you...
karateross |
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Ron C
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Yes. If you obtain the loan legally and the interest rate is lower than the cc rate - absolutely. |
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cirque de lune
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sure...then down when the government is demanding 500 a month to pay off student loans, hey, at least there won't be credit card bills!
trust me, my husband just graduated and it's a mess.
robbing from Peter to pay Paul is always a bad idea. in the end, you'll still end up owing someone. |
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princess
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No it's not cuz how are you gonna pay for skewl if you used your student loans ? Also, your Q is kinda hard to read... Anyone else find it hard to understand ? Or is it just me ? |
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ksruckman
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here's a blog filled with info on student loans, hope it helps:)
http://federal-loan-consolidate.blogspot.com/ |
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jd
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It would depend on the terms of the student loan versus the terms of the credit card debt. Look at the costs of each loan over the repayment period to determine which is the better option. |
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fsanders2
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it depends on which has the least interest.... i admit i have used some of my student loan money to pay credit cards.. |
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gonzo_50
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Charge your student loans on your credit cards, then file chapter 13,,,hmmm or is it 7. None the less, then they will be gone...
Smart thinking. |
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Mickey S
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If you have to ask this question, I suggest you see a financial councelor. Beside being illegal it is immoral. |
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