TwinkaTee asked:


I need some motivation people! I want to commit to reducing my credit card debt this year; but, it seems a bit overwhelming. Please share stories of how you reduced your debt. Maybe that can psych me up to keep sacrificing and paying off these debts. Thanks!

Tiffany

awise0204 asked:


Like I am in about $20,000 in debt and I was thinking about consolidating all of it into one monthly payment. If I do decide to do it, I really would like to know how everything will show up on my credit report after everything is said and done.

Debbie

birdiegirl asked:


I have cleaned up my credit and my score is 661 right now. Should I wait until it gets over 700 before applying for a mortgage? Is there anything else I can do (besides paying bills on time) to get my credit score up a little higher?
I did get approved but at a 12.9% rate and would rather rent and wait until I got higher.

Jay

Don’t Worry About It? asked:


Ok, so I have two credit cards, one was a “student” credit card that didn’t seem to collect interest, the other just a regular rewards card. One card was maxed the other almost maxed. I paid them mostly on time for the most part.. making the minimum payments most months and sometimes more than the minimum while i would slack off and forget to pay them other months and just not care. I did not understand what any of it meant until my parents explained. So basically.. I’ve had it happen twice where I got a phone call from the bank requesting me to pay. And I would after this obvious reminder. How badly is my credit score hurt?….. Over 1700-1800 dollars worth of debt carried for over a year… This week I paid them both off fully at once. Was this a bad idea? How do I fix most of this?

I am a university student with no debt other than these 2 cards. My university tuition has been paid for in full and I’ve never needed a student loan or ever requested one. Next year I am thinking about having a student loan to raise my credit score? I have a cell bill that my parents pay every month on-time. I currently work part time… and am forever guaranteed my job (employed for the full year).. so in the winter time etc I can work whenever I have time off school. I make quite a bit of money and own my own vehicle fully paid for…and just pay rent yearly.
Is it good now .. that i’ve fully paid them both off.. to use my credit cards to buy things then when I get home pay them off right away? will that help?

Elsie

bigkicker2 asked:


Hello all, I am a 24 year old male with a college degree looking to get married soemtime in the next year.

I checked my credit report and score the other day and found no discrepanices. My score was listed as a 720 out of 990 according to transunion with a grade of C. I have NEVER had a late payment on any retail card, merchant card, utility bill, or my student loans. Somewhat surprised to find out my score was this low although I am only 24 with a decent amount of debt.

I owe 35k in student loan debt which will be effectively wiped out when I join the US Army to go to basic and OCS in a few months. I have been told that the 35k will be frozen from interest growth and the Army will pay 1/3 of the balance each year for my first 3 years serving. If this is incorrect let me know.

I owe $3900 on a credit card. I haev another credit card with 0 balance and 3 retail credit cards with 0 balance.

I will have a salary of appx 32k with the army as a 2nd LT with less than 2 years. However I will also have much fewer expenses (ie rent, bills, and food) so I will be able to save 20-25% for a retirement fund and bank the rest.

I want to have the $3900 paid off before I ship out. What kind of boost will my credit score get if I pay off the $3900 and have my student loans frozen for payment by the US Army (I have been told credit bureaus love this becuase its a slam dunk guarantee on collecting)

Thanks for the advice and any other financial advice that can be offered to an a young future army officer would be much appreciated.

Rosemary

jade asked:


I get my free credit report every year. I need to know how I can get my free credit score I’d appreciate any good answers someone can teach me, how to get free credit score report.

Jessica

Don’t Worry About It? asked:


Ok, so I have two credit cards, one was a “student” credit card that didn’t seem to collect interest, the other just a regular rewards card. One card was maxed the other almost maxed. I paid them mostly on time for the most part.. making the minimum payments most months and sometimes more than the minimum while i would slack off and forget to pay them other months and just not care. I did not understand what any of it meant until my parents explained. So basically.. I’ve had it happen twice where I got a phone call from the bank requesting me to pay. And I would after this obvious reminder. How badly is my credit score hurt?….. Over 1700-1800 dollars worth of debt carried for over a year… This week I paid them both off fully at once. Was this a bad idea? How do I fix most of this?

I am a university student with no debt other than these 2 cards. My university tuition has been paid for in full and I’ve never needed a student loan or ever requested one. Next year I am thinking about having a student loan to raise my credit score? I have a cell bill that my parents pay every month on-time. I currently work part time… and am forever guaranteed my job (employed for the full year).. so in the winter time etc I can work whenever I have time off school. I make quite a bit of money and own my own vehicle fully paid for…and just pay rent yearly.

Is it good now .. that i’ve fully paid them both off.. to use my credit cards to buy things then when I get home pay them off right away? will that help?

Alfred

PrettyEskimo asked:


Have the government pay off the 2.5 Trillion in credit card debt US consumers have, and any purchase within the next 6 months is guaranteed at 2.9% interest. This kills two birds with one stone. The banks get their money and the people get a new lease on life and the economy will get a HUGE surge in purchases.
Yeh, this will work. I double checked all my figures.
at that 2.9% rate it would max out at 1250 that is all you get. Now if you are a responsible citizen and didn’t need the help that 2.9% would be good for 18 months with a 5k cap.
so, you would rather spend 1.25 Trillion and pump that into the stock market instead.

Joshua

cornerblitz13 asked:


Sorry, multiple part question: What is the highest credit score possible and what is the lowest possible? What can you do to improve it? And the myth that using your ATM Debit card as credit can actually improve your credit score, is it true?

Leon

El Nino asked:


This is my first credit card ever, and i try not to be a big spender on it even though i have a balance due.
But i noticed that the company has increased my limit twice in a 6 month period. What does it mean? Is it a sign that my credit score got higher or is it a bad sign? please serious answers only! 10 points guaranteed.
Also, is it bad if i carry a balance at the end of each month? I do make regular payments which are much bigger than the minimum monthly payment required. But i wonder if it will have a negative effect on my credit score because my balance is not zero at the end of each month.

Lillian