Reply
Valued Member
lien0569
Posts: 37
Registered: ‎08-19-2009
0

How do I lower my minimum monthly payment?

Any tips and advice would be greatly appreciated.  Debt consolidation companies do it all the time but I don't want to have to go through one of them. 

Its only one credit card, but the minimum payment is over $400.  I am at my wits end, I cannot keep paying that and keep up with my mortgage, etc.

I do not want to ruin my credit over this, which is good (around 710).

 

There must be way to call the cc company yourself and work out a smaller minimum monthly payment???

Regular Contributor
JackBeNimble
Posts: 175
Registered: ‎04-02-2010
0

Re: How do I lower my minimum monthly payment?

You can try just calling them and asking them.  They might have some suggestions.

 

Also, if you can  stick it out for a few months, depending on the balance on the card, the minimum should go down by itself, soon.

 

-----
04/2010 EQ 656 TU 648
05/2010 EQ 669 TU 664
06/2010 EQ 674 TU 678
07/2010 EQ 666 TU 667
Member
GroundhogPhil
Posts: 15
Registered: ‎01-13-2010
0

Re: How do I lower my minimum monthly payment?

I agree with JackBeNimble. Call them up and try and work out a deal with them for now. They want your money and should be willing to work with you.

___________________________________________
Starting FICO 530 (06/2008)
Current FICO 686 (06/2010)
Goal FICO 20,000 (06/2012)
USDA Home Loan 12/2009 (Tax Credit SPENT) No lates in two years, 6 percent utilization, 5 years AAoA, etc. I regularly use a couple cards and pay them off online. CR Shows: Home Loan/Car Loan/Personal Loan/Credit Cards.

myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.

>> About myFICO
FICO Score - The Score that matters
Click to Verify - This site chose VeriSign SSL for secure e-commerce and confidential communications.
Fair Isaac Corporation is a BBB Accredited Financial Service in San Rafael, CA
FOLLOW US Social Media Facebook Twitter Pinterest Google+
}