CC debt; carrying balance

c47v3770 · ‎09-06-2013

Hello!

Hoping I can get some feedback/tips on how to deal with this. I'm a recent graduate and have only one CC. My credit line is $2,000. For the past 3-4 months, I've been carrying a balance and paying interest because I've not been able to pay the balance in full. I currently have too many expenses (student loans, car, etc) and can only pay about $100-150 off the balance per month.

Do you recommend I keep paying what I can? Or do I have any options like transferring my balance to another CC? I really don't need another CC since I clearly haven't been able to manage my current one. I'm learning though..

I will be able to make bigger payments starting next year but don't really want to wait that long..

Thanks!!

knoregs · ‎09-06-2013

You can apply for a 0% balance transfer card but the catch22 is that with your 1 maxed out card your scores are probably too low to be approved. Good luck!

~kn

EQ: 700 (FICO ScoreWatch) 11/26/14
EX: ??? (No Current)
TU: 681 (Discover FICO) 11/12/14

Last App 9/22/14... In Garden 'till Summer '15

brianjb · ‎09-06-2013

In the meantime, I say try to work as hard as you can to pay off your debt.

I know that it is hard, but it is good that you are learning this lesson.

Can you work more hours this Fall/WInter? A lot of places hire seasonal help for the holidays. I don't see why you can't earn an extra $2K betweek now and the end of the year and pay off that card.