topic Re: Any advise??????? in Credit Cards

Any advise???????

Anonymous — Mon, 07 Sep 2009 18:50:14 GMT

Hello all, I recently got my Chase cc bill and they went up on my payments. Instead of the 2% it's 5% now. I owe 11K and my payment was 230 a month. The new payment is 558 AAAAHHHHHH I do have good credit ( in the 720's last I cked) and we pay all our stuff on time (my credit report has no negs or late pmyts) and I am scared this will hurt it bad if i let this debt go. I cannot make this payment!! First of all I don't work because I stay at home with my 4 month old little boy that needs special care. My husbands income is all we have. Although he does make good money we have a lot of things we pay on every month. So there isn't much left as it is. I am wondering which will hurt my score the LEAST--- TRY to get a loan for half the amount? Try and transfer half the balance to a NEW cedit card. All my cc's have high credit lines. ( BUT I know having more than 3% of the credit line is bad) Or cancel the card and just pay what I can? PLEASE HELP!!!! I need to know what to do ASAP!! Thanks!

Re: Any advise???????

Anonymous — Mon, 07 Sep 2009 19:34:18 GMT

stang96mj wrote:
Hello all, I recently got my Chase cc bill and they went up on my payments. Instead of the 2% it's 5% now. I owe 11K and my payment was 230 a month. The new payment is 558 AAAAHHHHHH I do have good credit ( in the 720's last I cked) and we pay all our stuff on time (my credit report has no negs or late pmyts) and I am scared this will hurt it bad if i let this debt go. I cannot make this payment!! First of all I don't work because I stay at home with my 4 month old little boy that needs special care. My husbands income is all we have. Although he does make good money we have a lot of things we pay on every month. So there isn't much left as it is. I am wondering which will hurt my score the LEAST--- TRY to get a loan for half the amount? Try and transfer half the balance to a NEW cedit card. All my cc's have high credit lines. ( BUT I know having more than 3% of the credit line is bad) Or cancel the card and just pay what I can? PLEASE HELP!!!! I need to know what to do ASAP!! Thanks!

Welcome to the forums!

Is this from a balance transfer (BT) at a perpetual low fixed rate?

Contact Chase directly. They have hardship programs available that will lower your payments. The frontline CSR's may not be very approachable on the matter, but the program does exist. Most likely it would involve closing the current account and transferring the balance to an installment loan. You can read further here:

http://www.smartbalancetransfers.com/blog/2009/07/solution-for-chase-5-minimum-payments/

ETA: You could try calling this number directly: 866-351-0182

ETA: What you are look for is called Proactive Solutions.

Message Edited by creditwherecreditisdue on 09-07-2009 03:34 PM

Re: Any advise???????

RobertEG — Tue, 08 Sep 2009 00:13:24 GMT

Solicitation of business?

Re: Any advise???????

Anonymous — Tue, 08 Sep 2009 00:16:02 GMT

@RobertEG wrote:
Solicitation of business?

Huh? What are you talking about?

Re: Any advise???????

Oh_Canada — Tue, 08 Sep 2009 00:18:47 GMT

uh oh....i sense a super contributor battle

Re: Any advise???????

Anonymous — Tue, 08 Sep 2009 00:38:10 GMT

@RobertEG wrote:
Solicitation of business?

You leave a post that implies sarcasm and possible violation without any justification as to why you left it. It would be helpful in the future to state your possible concern, and or investigate prior to leaving such a reply. If you check the information left by CWCID you will see he is cutting to the "CHASE" (per se) by giving the OP the number to call and program name offered via Chase. Maybe if you looked up the information he left (as I did) prior to leaving a post that you know will cause consternation, you would have learned the same.

Re: Any advise???????

llecs — Tue, 08 Sep 2009 00:46:30 GMT

Public reminder to be friendly and helpful!

I'm guessing RobertEG's intent here, but when I first saw that it looked like a commercial solicitation as well. In fact, many spammers have posted spam disguised as blogs whereby if you click for a CC app, they get a commission and so on and so forth.

After further review, Proactive Solutions isn't a business but an offshoot of Chase's collections department.

RobertEG's concern is very justified. Creditwherecreditisdue, your response is noted. Now play nice.

Re: Any advise???????

Anonymous — Tue, 08 Sep 2009 02:55:51 GMT

You can still opt for the lower rate; however, chase will close your credit card. IIRC, they have also given customers a 7.99% BT for Life with a 2% payment schedule.

Re: Any advise???????

Anonymous — Tue, 08 Sep 2009 04:24:56 GMT

My intrest rate is already low at 6.79%

Re: Any advise???????

Anonymous — Tue, 08 Sep 2009 04:56:58 GMT

@Anonymous wrote:
My intrest rate is already low at 6.79%

If the payments are not going to be a problem make them.

If the payments are going to be a problem read the information in my post above (and at the cited link) then contact Proactive Solutions at Chase Bank for a potential solution.

Unfortunately your 6.79% APR is tied to the 5% payment schedule

Re: Any advise???????

Anonymous — Tue, 08 Sep 2009 10:33:29 GMT

No 3% rule that I'm aware, or do you mean 30%? I have a PenFed visa maxed (98%) at 2.99% BTFL. I took a couple point loss for the high balance on the card. FICO can kiss it!