@NRB525 wrote:
@Anonymous wrote:
About the Premiers, dont worry... i had left them in like $20 and $30 balances because i though it would help me more than just having them on a zero balance (doesnt it work like that?). but i will bring them down to zero now that i see your advice.
AVANT loan rate is 35.90% (Insanely high but i though it would be very to have a loan with no limit than maxed out credit cards).
Term 60 months
Payments 230
Loan= 6,400
Finance= 7,450
Total= 13,850 (I know this is outrageous but im planing to pay it by nest april when i recieve my taxes)
For the First Premier cards, I have not had one, but from what I hear about the terms, it may be possible to use them now and then, and then use the limited number of "free early payments" to pay that charge, or a few charges over a few days, before they have much time to generate interest and fees. In other words, it is probably a good idea to use them for something minor like a tank of gas or some groceries, and then arrange to pay that off a few days later. This may also avoid some "inactive fee" that they have and I am speculating about
Yeah, you understand where you are with the Avant loan. At that rate, any spare cash you come up with early, to pay that down ahead of the tax refund will put lots of extra money in your pocket. With the available credit cards you have from Discover and such, you can handle daily spend there, manage payments on those cards to PIF. If you have any savings, I would consider drawing some of those down, because the 0.01% APR you are earning on the savings can be improved to saving 36% APR by putting that money toward the Avant loan, particularly if you get a windfall tax refund later.
What is the APR on each of the three regular credit cards you have, Discover, Walmart and I think you had Barclays? (I am being charitiable about the walmart card, it's probably a store card, but they sell so much stuff that it might as well be a regular CC)
You might check the Capital One prequalification site, to see if any cards come up there. Your recent improvement in scores, and even with a late, you may be OK to get a basic Capital One card. Try to go for a Quicksilver no annual fee card, but they may route you to Quicksilver One with an AF. No matter, if you get a CapOne card, you can start building a relationship with them and 6 months or a year from now apply for a better Capital One card.
Good luck!
Hi! Sorry i took long into answering... First of all i wanted to let you know 2 things. The first one is that my credit score changed again... Transunion is 707!!! im really happy about this. also, my other scores increase a little bit. not enough tho... The second thing is that my discover card limit went from $500 to $750... my first CLI.
So you think a better course of action for me would be to use those Premiers just once a month each and pay them off the next day or so? Im asking this because I understand that having separate cards withh debt all of them will create a "ceiling".
About Avant... Since they didnt do a HP when i got it, I red in these forums about "Lendingclub". So i decided to give it a try, It said to get a rate wouldnt check my credit so i put my info... I put in the app $10,000 just so that im able to payoff my Avant & Carecredit and my wife's Citi. I dnt know if she would be ok with it but im planning to tell her that I will pay it off and she can give me the monthly payments she is currently doing. That way I can improve my credit, recieve like $50 or $70 towards the montthly loan, and be a good person to her since the only reason why im on that card was for her to help me with credit... She is a great person and we have nothing against each other. We keep a really good relationship.
The loan came back saying i was approved for the $10,000 with an apr of 24%... so my payments would be the same as avant, on the same terms, but they are borring me $4,000 more to help me wipe out literally EVERYTHING. I went ahead and acccepted the loan wich promped me to fill out all of the info... After sending it they sayinf everything was fine and I only had to wait for the investors to fund it and the application to be approved. I already recieved the Email saying that my loans is already backed up 100% by investors, so now i just have to do my "To-Do" list wich was only verify my bank acc and my email... They havent requested any further information so im hoping everything goes smooth... I checked my loan docs and it states that they saw my Transunion (wich thank god is the one that went up to 707). I think this was a smart idea since im paying less interest and paying off more debt but you are the expert.
The C.O wouldnt apply because she messed up (REALLY BAD) with her secured so theres no hopes for her... i just added her to my barclays like i said so she has someting reporting positive in case in the future she decides to get her act together.
These are the APRs
Discover: 19.99%
Barclays: 26.99%
Walmart: Site is down so im not sure but I keep it at $0
Avant: 35%
Lendingclub info: 24% for 60 months
Interest total $7,000
Just updated my signature AND happy to do 