I need to figure out a way to pay for my school, I just graduated and have 10k in school debt. (not smart to pay for school on an american express.) :)
What is the best loan to pay credit card debit without owning a home?
I think what%26#039;s been said about just paying it off is absolutely correct but I want to chime in on one user%26#039;s suggestion: DO NOT use a debt consolidation service like Consumer Credit Counseling Service. It will HURT you in the long run, trust me. The fact that you use them shows up on your credit report for seven years and is a HUGE red flag to creditors. They may definitely help you get things under control NOW, but they wreck your ability to get good credit with better interest rates LATER.
What is the best loan to pay credit card debit without owning a home?
credit card!!!
What is the best loan to pay credit card debit without owning a home?
You can not borrow your way out of debt.
You need to just write a monthly budget and pay off this debt as soon as possible. Put yourself on a bean and rice budget and do it quickly.
By the way, close that account and cut the card up. You can close it before paying it off. Do not get anymore credit cards.
you need to take Dave Ramsey%26#039;s Financial Peace University. thsi will change your who finiancial life and you can retire a multi-millionaire, given your young age.
What is the best loan to pay credit card debit without owning a home?
If you find yourself in credit card trouble, one avenue you may want to try is a credit repair service like Consumer Credit Counseling Service. They charge you a nominal fee every month and work with your creditors to get those monthly payments lowered. Once you have paid all your credit cards off they help you fix your credit rating. Just be careful -- not all credit repair agencies are legitimate. I went through Consumer Credit Counseling Service of Ventura County, California and they are a true non-profit organization that helps people with credit card debt. It%26#039;s worth looking into.
What is the best loan to pay credit card debit without owning a home?
Any loan you can get with a flat rate of interest and a lower rate than the Amex card would be good. You might have to put up some collateral if you have any, such as a car, if you get a more conventional loan through a bank or credit union.
However, the very best loans I%26#039;ve had in the last few years came from credit card promotions (including American Express) in their flat %26quot;rate until paid off%26quot; offers.
Don%26#039;t even nibble on an offer for 0% or 0.99% for a certain length of time. Those will be up higher in no time and you%26#039;ll still be subject to the credit card company%26#039;s whims where interest is concerned.
But, if you can take advantage of an offer of a flat rate of 6.9% or better until the balance is paid in full, you might want to jump on that. And then don%26#039;t charge anything else, especially with those cards with the special offers. The bank wants you to do just that, though, so you can start paying the higher rate of interest on the card while you continue to make payments on the lower interest loan. (Credit card companies apply your payments to the lowest interest balance before any other balances.)
Good luck finding a suitable substitute for the Amex balance.
P.S. With Amex or a substitute loan, be sure to pay any extra you can manage. You%26#039;re beating a dead horse!
What is the best loan to pay credit card debit without owning a home?
Have a look at 'http://prosper.com%26#039; - this is a site where ordinary people can decide to help finance an unsecured loan to you. I heard about it over a year ago and it seems like such a great idea.
Basically, when you sign up, you explain your situation and submit information to obtain your credit report. People get to see your credit score (from %26#039;AA%26#039; to %26#039;HR%26#039; - high risk to %26#039;NC%26#039; - no credit score) and read your request; they decide whether they%26#039;ll contribute to your loan based on how you present yourself and what your credit score is like. People actually %26#039;bid%26#039; against each other so if one person says %26quot;I%26#039;ll lend you $10000 at 12%%26quot; and another says %26quot;I%26#039;ll lend you $10000 at 11%%26quot;, you get the 11% rate. You don%26#039;t need all the money to come from one person; you might get 10 people all contributing $1000 each or some other combination.
You can read other people%26#039;s profiles to get an idea of what interest rates are possible for people with your score in your situation, i.e. do you have a steady job, any other debts, etc.
Disclaimer: I have no connection to prosper.com, I just like the idea behind their business model.
