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Valued Contributor
Posts: 1,933
Registered: ‎10-23-2007
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Too Many Credit Cards With Balances! A lil Overwhelming!

I have my share of credit cards and i getting to the point where i cant keep up with them all! I recently was late by two days on my chase freedom card, made a payment today, hope that doesnt hurt my chances of a CLI!
 
Anyways here are my cards and/or balances!
 

 

 
Creditor------------------Limit/Balance
Truliant FCU------------1500/1190
Bank of the Carolinas 1000/1000
Capital One-------------1100/826
Capital One-------------600/406
Chase--------------------200/224 ( i was late on this one and they charged a late fee....OUCH) Should be $24 when it updates!
Chase BP---------------2000/556
Walmart-----------------700/293
 
I thought i had better control than this....this is really becoming a major learning process! If and when i get those balances down...lord knows i dont want them to get that high again!
 
What is a fella to do!
 
Established Contributor
Posts: 540
Registered: ‎06-07-2008
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Re: Too Many Credit Cards With Balances! A lil Overwhelming!

humm, wow, i am just curious what did you purchase for that much? though i am not really answering your question, i would like to know who people wind up with that level of utilization. Thanks,
-void
Senior Contributor
Posts: 4,831
Registered: ‎04-20-2007
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Re: Too Many Credit Cards With Balances! A lil Overwhelming!

Pay those suckers off. Then use 2 a month and rotate them.
Moderator Emeritus
Posts: 3,417
Registered: ‎12-27-2007
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Re: Too Many Credit Cards With Balances! A lil Overwhelming!

SBK:
 
Haven't you just recently opened most of them?  I'd say you're playing with fire.  Do you have a sock drawer?  It's time to put the plastic DOWN.
 
(My lame attempt at HVT.)
~*~*~*~*~*~*~*~*~*~*~
From 700 in 2008 to 498 in 2012...
4/23/12 -- BK 13 date of filing EQ = 505
4/18/12 -- EQ 498
12/5/13 -- EQ 669
Here we go.... back on track.
Frequent Contributor
Posts: 358
Registered: ‎11-05-2007
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Re: Too Many Credit Cards With Balances! A lil Overwhelming!

     I hope that you are working a system out to get these paid down ASAP.  Maybe a PT job. Good Luck Vicki
~We'll Never Say Goodbye~
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Frequent Contributor
Posts: 366
Registered: ‎12-20-2007
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Re: Too Many Credit Cards With Balances! A lil Overwhelming!

Well try an pay a small amount over yr mininum payment!!! if its just 10 bucks more at least your trying and NEVERRRRRRRRRRRRR be late again at least pay the minimum! get reminders chase offers those !!!! in advance. you know they will rate jack you! so dont play with that kind of fire and if u use your cards hopefully you got what you wanted now PAY FOR IT!!!! thats all and slowly you will be rewarded for managing debt! GL and everyone gets overwhelmed when spending money afterwards!!! LOL my BP hit rock bottom i bought another vehicle used tht needed some items i used my limit and Im paying lump sums,or just abv the min payments! So im happy I have credit! Im using it wisely! I also like what another member says use one or two at a time then leave em alone and pay them off!   
~EveryThing Is Within REach~FICO FORUM roCKs.....
Regular Contributor
Posts: 134
Registered: ‎05-07-2008
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Re: Too Many Credit Cards With Balances! A lil Overwhelming!

I once owned about $8.5k/$11k for buying a 10k engagement ring. That is how I got screwed for a year or so lol
Score Watch: EQ 767 (6/30/09)
Valued Contributor
Posts: 1,998
Registered: ‎03-31-2008
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Re: Too Many Credit Cards With Balances! A lil Overwhelming!

You need to cut yout cards up an pay them off before you get into deep.

Starting Score 3-31-08: EQ 582 TU 577 EX 625
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Frequent Contributor
Posts: 358
Registered: ‎12-23-2007

Re: Too Many Credit Cards With Balances! A lil Overwhelming!

[ Edited ]
You will be charged an over-the-limit fee now too with Chase. You may want to try to pay an extra 50 on it so it will stand at 0 *if I read your post right, you paid all but 24 dollars on it.* Start paying all your credit cards as soon as you have the money. Pay off your higher interest cards first. STOP using them. Good luck! It will take time. I started off with 99% util when I first came to my fico- 6 months later I'm at 30%. It does take time to pay it off. Get a game plan :smileyhappy:

Message Edited by AlishaR on 07-15-2008 06:00 PM
7/3/08- EQ= 642
UTIL=98% (12/07) 87%((4/08)-41%(5/08)-29%(06/08) GOAL- >9% by 12/08
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Community Leader
Epic Contributor
Posts: 28,098
Registered: ‎04-01-2007

Re: Too Many Credit Cards With Balances! A lil Overwhelming!

schoolbuskid, look into the price of a small safety deposit box at a local bank. You should be able to get one for around $20/ year.

Put all but one card in it and lock them up. I don't think a sock drawer will do it; I think that you're going to need to get them out of the house. (No online charging --that's cheating!) Only use this card for stuff that you have money for right now. Think of it as a debit card, and pay off all your new charges every week. Swap it out every month or so, so that they all get some activity. You might need to go to WalMart every three months, buy 8 pairs of socks, and charge each with a different CC to keep them all alive. (I will look for the security tape of your checkout on YouTube!)

Get on a killer credit diet. First get everything under 85% to reduce the chances of having some of your creditors rate jack you. Then shoot for under 50% and so forth. Get a part-time job if you have to. I've noticed that the area teenagers who started working fast food at the beginning of the summer have all vanished. :smileywink:

You're finding out what happens if you get lots of new credit before you get your brain reprogrammed to a new way of thinking about money and credit. You need to do a 180 now, before you find yourself in worse shape than before. You can do this! Don't let all your hard work so far go for nothing.
* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007
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