ANTICIPATED JUNE BAL RATE PAYMENT BofA 10,500.00 4.45% v $275-300 Mark's Citi 4,900.00 3.9% (until paid) $100.00 + f/c Capital One 3,900.00 2.9% (until Oct) $100.00 + f/c JUNE 3, 2002 DISCOVER CARD FOR HUBBY ARRIVED 6,000 CREDIT LIMIT @ 0.00% UNTIL DEC 02 JUNE 4TH PHONED DISCOVER. 1. PAID OFF CAPITAL ONE $3,800 2. REQUESTED PAYMENT TO BofA for $2200 3. TOTAL USE 6,000 NEW BALANCES WHEN PAYMENTS POST W/IN TEN DAYS CL 12K BANK OF AMERICA $8,300 @ 4.75% (min 182.60) CL 6K DISCOVER $6,000 @ 0.00% UNTIL DECEMBER (min $120) CL 5200 CITI BANK $4,900 @ 3.9% UNTIL PAID (min $98) _________________________________________________________________ TOTAL DEBT $19,200 NEW PAYMENTS 1 DISCOVER $120 2 CITI $100 + F/C 3 BANK OF AMERICA $250-275 4 ESTIMATED PAYMENTS $ 470-500 HIS SCORE ACCORDING TO CREDIT EXPERT 723 MINE 729 ANTICIPATE INQUIRES FALLING OFF IN NEXT FEW MONTHS THE FOOLS SAY I'VE GOOFED.. YOUR OPINIONS ?
I guess it depends on what the "go to rate" is on the Discover and Capitol One but, I sure would have put a zero interest rate to work.
The regular rate on the DISCOVER will be 12.99% .. of course I won't be staying past the 0% . even if it meansgoing to MBNA at my the regular rate of 9.9%. What I am hoping for after this is 0% is point blank another 0% offer, something VERY similar or enough "room" on our BofA (prime for life) currently 12K limit and an 8,300 balance to squish it all together. I am just thinking .. I borrowed 6,000 from a CC Company for 6 months and not going to pay ANY finance charges. Isn't that just to cool ?
I like your thought process. Why do they say you goofed? As your balances drop, you have a very decent chance to pull this off.
No you did not goof at all,don't listen to the fools on that because you are doing a great job on keeping your rates low on your balances.If everthing goes alright for you in example have no set backs,or not too much of it you can be out of credit card debt within 4 1/2 years.I will email you about what my wife has done with chase in about 2 days.Also juniper has offer her a 5.90% until septembers closing date.We are being very sucessful with our creditors with their BT rates.Will let you know more throgh my email Have a good day, Barry
I think you may have a problem (but I'm not sure). My reading of what you said is that you maxxed out the Discover card. Most of my cards, but not all, will add your monthly interest at the end of the billing period to the amount owed. That puts you over the limit which means you lose the special rate and you go to the default rate (usually 24.99% or thereabouts). Am I reading this right? I learned my lesson the hard way.
OK. I read it wrong. You are right - Discover is 0%. But, I still don't like using 100% of a credit line - way too risky. Like I said above, I learned the hard way.
Cherie, Personally, I don't see where you made a mistake. Since you are into debt elimination, you ought to have your lowest rate cards maxed out. I'm curious as to why the "Fool's" think you goofed?
What are you doing there, LOL? They are clone-brains. I left a long time ago when they kept blasting me because I am an agent, like I was the devil or something. I was trying to help people, they were horrible. They put everyone down who thinks differently than they do.
I think it was a smart move, cherie! Make yourself a little thermometer chart so you can watch the balance go down, and go around chuckling to yourself...
