22k in credit card debt. But I have options. Alright, so yes I am an idiot but have learned my financial lessons. Background, I knew we had a cc with about 11k on it from our wedding (wish I had bigger balls to say no to all the crap we went in on) and it’s 0% apr till Nov 24. While creating a budget I made a lovely discovery that my wife has a card with 14k on it and has been collecting i…

Credit card cut my limit. That was a wake up call. Not sure how to proceed with next steps. $48,000 in credit card debt across five high interest cards, mostly in the last two years. $50,000 in student loans. I’m a single income head of household earner and I’m raising a few kids. I make about $80,000 a year AGI. We have a $350,000 home and owe $250,000 on it at 3% interest. We live pretty frugally. I have two twenty year old cars and …

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Why does a foreclosure keeping hitting my credit? Back in 2017, I had to move due to work. I owned my home but it wasn’t worth near the amount my mortgage was. I talked with the bank and they suggested that I sign it back over to them and essentially foreclose on it although they never said it would be considered a foreclosure as I was taking preventative measures on it. Fast forward to now and…

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Personal loan to payoff credit card debt. So I can take out a personal loan to payoff credit debt but my apr would actually be higher since my credit rating is 620. But by paying off my credit cards my credit would jump to 770. Would it than be possible to take out another loan with better terms to pay off the previous loan? submitted by /u/Da_brightman

Help me get out of the credit and loan interest payment cycle I have a great job of 15 years but have always been one to spend the money I make and not save unfortunately. I have been making strides the past year but hoping yall can push me further in the right direction. I make about 95k a year. I have 55k in 401 account, with a loan from 2 years ago on that when I purchased my house. I put in 5% of my ch…

is it worth it to take out a car loan to build credit? I’m 22, credit score is 770-790 depending on Fico/Experian/TransUnion. My only credit history is from credit cards. I’m going to be buying a car soon and could pay all cash for it, but I’ve heard that getting a “real” loan is something you should do to build credit. My question is, is this really worth it? At what interest rate would you turn aw…

I maxed out 3 of my credit cards I need financial advice. I maxed out 3 of my credit cards, and have about 40k in credit card debt. (I was unemployed for a while). I now take home $3k a month after rent and utilities. I can afford to pay the minimum payments but that’s it, and I know all this debt is lowering my credit score because of credit utilization. I get a $40k bonus in…

Both my credit and debit card numbers got stolen and I’m unsure how it happened My bank caught the credit card transactions because they were basically outrageous. They blocked the card and issued me a new one just fine. A few days later I am checking my debit/checking account and I see a transaction for fast food of all things in another state. So, someone got that number too. How does this happen? One card makes sense but…

Credit in Retirement Not my situation (anytime soon) but curious how people get approved for mortgages/loans/credit cards when in retirement, is the income just based on investment income/SS/etc? submitted by /u/mdwstnr

Is financing & credit card debt as bad as I see it? Newly married and my husband has credit card debt, about 20k spread over a couple credit cards. He recently sold a work truck for 6k and I think he should take that cash and pay off a credit card. I keep telling him he should be actively if not aggressively be trying to pay off his credit cards because paying 18% on debt is dumb when he has the …

Cancel or keep credit card I will never use again? I live debt free and buy everything from my checking account. I don’t use credit cards. 3 years ago I opened a credit card and put $9k on it. I paid it off that year. I have not used it since, and will never use it again (I opened it because I didn’t have $9K liquid, and the card had an introductory 0% interest for 12 months, and I paid it off …

Are travel credit cards worth it? I’m pretty new to travel and family/friends have suggested getting a travel credit card (Amex, Hilton, Hyatt, Capital One, etc). I’ve been doing a lot of research and it seems most of them are only beneficial or you get the most points when you book travel directly through the issuers portal or hotel/airline. I work for Morgan Stanley and they p…

Balance transfer credit cards Hello, When utilizing a balance transfer card how exactly does the interest hit after the introductory period? Example— $10000 balance transfer for 0% at 21 months. Say there is $1000 left after the introductory period and the interest is 23% thereafter. Does that mean the interest will be $230 or does it mean it will be $2300 for the initial tr…

Which is the best way to build credit with a credit card: Pay off card monthly between the statement close date and bill due date (while keeping utilization low) Pay bill after each purchase/daily submitted by /u/AL-MightIE

Is it bad if I’m in my late 20s and never had a credit card in my life? Should I open a credit card now? The only source of credit I have on my record is a $4000 student loan, which I paid off last year in full. Currently working at a temp job for a credit dept of a company making $1300 a month. Living with parents rent-free and own my own car as I purchased the car from my parents. Only bills I pay are my auto insurance and water bill. I have neve…

25 Year old; no savings, no debt, no credit card… no idea what I’m doing for my future. Help? Background I’ve been either living with or being supported by my parents for the last 7 years. I’ve rarely been unemployed, however I’ve had a ton of different jobs, part time/fulltime. I don’t have the slightest clue if I have multiple 401ks lying around, where to find the information about them, or how to consolidate them If that’s even how it…

Can a bank/credit card reduce your credit limit to below your balance while you have that balance? Let’s say somebody has a credit limit of $9,000 on a card. They borrow $7,500 by spending with the credit card. They pay their bills on time. However they have less income than when the original credit limit was approved. The bank determines based on their income or lack of income, the credit limit should be $5,000. Is there any worry that the…

Unauthorized credit card purchase My uncle got an unauthorized purchase notification of $500 and we immediately went to the BofA app and clicked the option claiming it’s not him. It’s says processing but it also said something like unauthorized. Obviously we reported the purchase as fraud (in the app) and are getting sent a new card but the app is showing the amount with $500 le…