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Established Member
Posts: 13
Registered: ‎07-03-2007
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pay off debt

Im planning to pay off my credit card debt I tried to apply for personal loan so that I can pay them off but they deny my application how many times. I try to consolidate but they told me that I have to have 10,000 dollars debt to approved my loan. And she can't help me. Do you have any idea or do you know trusted company that I can ask for. They give me the result of denial of my application it shows
the
LENGTH OF TIME ACCOUNTS HAVE BEEN ESTABLISHED
% OF BALANCE TO CREDIT LIMIT TOO HIGH ON REVOLVING ACCOUNTS
TOO MANY INQUIRIES LAST 12 MONTHS.
 
   I really want to pay all my debt the credit card debt. My plan is to make a personal loan and I will automatic deduction. I just want to pay them off. I need some advice. I dont know what to do.......
Regular Contributor
Posts: 108
Registered: ‎06-19-2007
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Re: pay off debt

Try the GE line of credit. I applied with them back in March and got approved for a 15k limit. I used that to consolidate my debt a at an okay rate and have paid it off completely, which in turn, raised my score significantly since my debt was so high.
04/18/2008 TU 723 EQ 715 EX 746
Senior Contributor
Posts: 4,635
Registered: ‎03-11-2007
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Re: pay off debt

Established Member
Posts: 13
Registered: ‎07-03-2007
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Re: pay off debt

what is GE peggy? I hope I get approved with 15k thats how much I need to pay my debt. are they secured peggy? thanks...
Regular Contributor
Posts: 108
Registered: ‎06-19-2007
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Re: pay off debt

Here is the link:
 
 
GE as in "General Electric". I had never heard of it until they sent me an offer through the mail. It couldn't had came at a better time because I had several thousand worth of cc debt from being underemployed for a few months so I put all my cc debt on it and paid it off in a couple of months at the lower APR. My score has jumped about 40 points since I have paid off the debt.
04/18/2008 TU 723 EQ 715 EX 746
Established Member
Posts: 13
Registered: ‎07-03-2007
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Re: pay off debt

oh they send you an offer thru mail so they approved you. I try to go online but it shows that they have no line of credit availble for me I didnt try to apply yet. I never seen my credit score yet I dont know if they will approved me if I will try to apply. My debt is 12k peggy thats why I need to get rid of them. give me some idea. thanks
Regular Contributor
Posts: 108
Registered: ‎06-19-2007
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Re: pay off debt

okay then, go to this link:
 
 
 Go to this link and scroll down to find the number where you can call to apply since you do not have an invitation. I would try it if I were you. Let us know how it turns out.
04/18/2008 TU 723 EQ 715 EX 746
New Contributor
Posts: 64
Registered: ‎06-30-2007
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Re: pay off debt

Peggy,

Wondering if you know what CB GE pulls from? And if you would share your scores from when you applied?

Thanks,

Judy
Regular Contributor
Posts: 108
Registered: ‎06-19-2007
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Re: pay off debt

Jru,
 
GE pulled Equifax(I'm in Washington, DC) when I applied. I think my Equifax score was around 680 when I applied and it was low because of my high utilization, which is why I think I got the invitation in the first place. I came home one day and found it in my mail and said to myself this is exactly what I need, so I called the next day and they approved me for a 15k line of credit at 10.99 and I was able to pay it down in a few months, in turn, raising my equifax score a little over 40 points.
 
The thing that I didn't like about this GE line of credit is 1. I had to pay a transaction fee of 75 bucks for them to direct deposit the money into my account and 2. You can only make 2 online payments each month toward your bill and you had to schedule the payment 2 days in advance, my guess is to squeeze an extra 2 days of interest outta ya. But overall, I saved money by consolidating my debt onto GE, but I won't be using this line of credit again because of the transaction fee.
04/18/2008 TU 723 EQ 715 EX 746

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