 Can anyone tell me about prepaid credit cards? |
| I used to do alot of shopping on the internet but I got ripped off by fraudsters a few months ago, I got most of the money back eventually but the experience has left me wary of internet shopping, I&#... |
|
 Is it possible to earn good money with online business, to supplement a full time job? |
| I preferably would like a personal develpment type of online business where I can earn good money and help others as well. Any ideas?... |
|
 Why do people not have an emergency fund? |
| I saw a stat that indicated that 62% of people can't write a check fo $1,000.... |
|
 If you cash a check that someone gives you and then you find out the check bounces and the account was? |
cancelled, what kind of recourse do you have?
Additional Details
does the bank/law go after this person for writing bad checks?... |
|
 I have one $30,000.00 credit card debit and a mortgage of 62,000 dollars loan with a home value worth 109,000. |
| What should I do? I need to pay my credit card. I make 4k a month take home. Please help me I am a Marine and need some advice. My credit card bill is accumalating 260.00 in intrest each month. Like I... |
|
 If I pay off all my old debts at one time, will this bring my credit score up? |
| I want to delinquish all old debt, completely. I have debt from delinquent bank account, medical bill, and credit cards, by paying off all of these things will my credit score come up? Is there other ... |
|
 How long does a debt live for does it finish after six years? |
| ive been told that if you have a debt that is six years or more that you are no longer liable to pay it is this true or is it that if another company buys your debt from someone then it will continue ... |
|
 Can my car be repossessed? |
| I bought a car 3 months ago and have never received my license plate. I launched an investigation with the DMV and it turns out the car had another lien on it when I purchased it, I told the dealer ... |
|
 I need money!!!!!!!!!!!!!!!? |
| ok so i just turned 16 at the beginning of july so i need money to buy a car. my family doesnt have any money to give me for a car and my parents have bad credit so we cant get a loan either. i have ... |
|
 Is it safe to put social security number on job applications? |
| You not sure whether you get the job or not. And you are not sure what they do with the job applications with all the social security numbers. It is really safe to put you SS number on it? you are ... |
|
 Have you ever tried to live on half of you income? |
| In an effort to save money I want to live on half of my income for the next few months - am looking for tips on the best way to s-t-r-e-t-c-h a dollar.... |
|
|  |
Nice Guy | What is a better way to pay off credit card debt and improve my credit score? |
Here is the scenario.... I have a credit score of 650, I have high balances on all four of my small credit cards (500-650 limits). I have 1,200 saved up to go towards paying off these balances. Whats the best route to go? Should I pay off two of these cards and leave the other balances high or should I spread out my money and pay down to make all of my cards a little lower? What looks better on the credit score? |
 |
 
Buddy
|
Check out "www.Prosper.com."
You can get loans online up to $25,000. You should be able to get a pretty good rate with your credit, then you can pay off your cards.
Prosper reports to the credit agencies so pay them off on time and your credit will get better to.
Good luck! |
|
Answer Fairy
 |
Looks better to lower them all.... but you are not going to get anywhere that way.
Pick your card with the highest interest rate and focus on that. Try to pay as much as you can on the others to pay them down (obviously), but make one card your main target. Target the car that is screwing you on interest. Once you have that one down to a reasonable amount, turn your sights onto the next highest interest rate. Attack them with a vengeance. By keeping up with all your payments on all your cards, and showing a focus on one card and actually getting somewhere, that is what looks best. |
|
Leah D
|
Pay off the card that has the highest intrest rate first and then pay off the next hightest intrest rate and so on. |
|
Renaissance Man
 |
Lower your total balance. For your best results, pay down the one with the highest interest rate first. |
|
crusinana1
|
my advice to you , is pay all cards off, then cut into small peices, good luck |
|
XoxoxoxoX
|
If you want to pay off QUICK, definitely pay off the one with HIGHEST interest rate. If you have money left over from the $1,200, pay toward the second highest credit card. This will save you some interest (kind of like money your throw away). So save some interests and pay off the highest interest rates account. This will improve your credit score because your debt ratio (total debt over total available limit) will be low. This is another reason why you don't want highest interest accrued on your account, which takes up your available credit limit. Once pay them off, do not close them. Because that will hurt your credit score. One very important thing is pay attention to the interest charged on your accounts, and if they are higher than the minimum payment required, pay the interest charged (and possible more). Good luck!! |
|
bettyrubleinspurs
 |
Suze Orman would tell you to look at the interest rates on each card, then pay off the card with the highest rate first. Reason being is that you will pay less interest in the long run.
I, on the other hand, had a similar situation not that long ago. From my perspective it is much more satisfying to pay off as much as possible as soon as possible. I would recommend taking what you have saved up and pay off the lowest balance card first. With the money you have left from your savings, I would put that toward the "new" lowest balance card, in addition to making my monthly payments on the other cards. This gives you the satisfaction of having one card paid off, possibly a second card paid off, or darn near so while you are working on the last two cards.
For the next two cards, take the next lowest balance and put whatever you have budgeted for card payments minus the minimum on the last card, on this card. You will be making bigger payments on the 3rd card and minimum on the 4th until to 3rd card is paid off. After that all of the money you have budgeted for card payments will go to the 4th card, paying it off that much sooner.
Don't get caught in the trap of taking money from your card payment budget and blowing it while you have cards to pay off.
As far as your credit score goes - Their big concern is if you pay on time and don't miss any payments. When you write out checks for your payments label the stamp area of the envelope with a due date 2-3 days before the actual due date. Keep these envelopes in date order. Time your payment to be received within the 2-3 days prior to the actual due date. When it is time to send off the payment, cover the date with the stamp.
This all takes time, but I am living proof it can be done on your own. |
|
Johnny Walker Matheson
|
The most recent answers about paying the highest interest rate are the best. Another thing no one else mentioned was that you can transfer balances from your high interest cards to your low interest cards. This will also save money. Pay as much as you can on the highest interest cards and transfer all the remaining debt to your lowest interest card. If it is truely unmanagable, then go get professional help. There are many NPOs that will help you and they can make a BIG difference, most/many are free services or cost little in comparison to the money you save. This will help you get debt free, and being debt free is what looks best on a credit score. |
|
Don
|
Keeping the available credit to 1/3 to 1/2 of the available credit is the best. If you pay 400 on each of the three you should be in good shape. |
|
billie b
|
pay off 2 then work on the other ones |
|
cruisepuppy7452a
|
Take it from someone who knows and found out the hard way, bite the bullet and pay them all. The less you have in debt, the better you are long term. There is no such thing as paying a little here and there, as the intrest will eat you alive. The companies want you to keep paying tiny amounts. Don't fall for the bait. Just do the smart thing and pay them all off. Then cut them up and don't look back.
What you lose in ease of purchases, you gain in loss of ulcers and sleepless nights wondering how to pay them off. You pay cash, you pay one time, no more how do I do this? It takes a while to get accustomed to this system, but trust me, bancruptcy isn't worth it. |
|
jdriven
|
Don't use them. If so pay them off monthly.
the only way to get rid of the debt is to get rid of the principal. Try to double your interest payment to pay off in a shorter time.
Do not cancel cards that have low or no annual fees. It counts against you when you close an active account and hurts your score. |
|
dormi22
 |
Pay off the smaller balances and work towards paying off the higher one. What will make your score go up is paying bills on time every month. |
|
David
|
If your bill reads $30 due, pay $40.00.
Slowly pay off all the bills.
Keep the money in the bank for suprise bills |
|
| |
|
| | |
| Questions List |
Answers | Last Post
| | | |
14 | 34 minutes(s) ago
| | | |
14 | 52 minutes(s) ago
| | | |
6 | 3 hour(s) ago
| | | |
14 | 7 hour(s) ago
| | | |
10 | 9 hour(s) ago
| | | |
14 | 1 day(s) ago
| | | |
14 | 3 day(s) ago
| | | |
14 | 5 day(s) ago
| | | |
14 | 2 week(s) ago
| | | |
14 | 1 month(s) ago
| |
|
Homepage 
Financial
Forum 
Personal Finance 
No Spam
Adult 
Gambling
Unfinished
Deception
Plagiarism
Not English
