@Anonymous wrote:
how do you mean continuously applying for CC's. i have applied for Barclays & PayPalMc within 72 hours. is that too much? really?
There is a lot of debt & very low income. i acknowledge that. For that i can say i m making progress on income side doing as best i can bringing more income but not exactly so much that i can payoff a lot. its gonna be a while before that happens.
Wow OP, I'd run to the hills!
Psychologically speaking, you come to this forum looking for people that will be "on your side" because you're looking for support and people who will give you answers but only as long as they agree with your perspective but once you figured out that people disagree with your "situation" you stop to consider our insights as an option. Putting psychology aside and answering your original question, Barclays is the one being smart here, I mean, put yourself in their situation and ask yourself: "Would I approve someone in that situation"? I don't think so.
If you're already blacklisted with other banks, that should've been a sign to stop applying for more credit cards because, as you probably already know, when you pay the minimum amount you start accumulating APR which is something that you definitely can't afford right now.
My advice is, stop applying for credit cards, you can't afford them and you can't get them. Easy. Banks are shutting you down and the list will go on as you soon won't be able to make payments as you already can't for some of these cards as it would cost you more than you actually bring home. Your minimum payments are bigger than what you bring home. Just the minimum payments. Stop chasing credit cards, they are not the solution as you won't be able to get more cards as banks are blacklisting you and so on.
From my perspective, in your current situation, you won't be able to fix this situation anytime soon unless something changes dramastically.
I hate saying this because I don't like to see people going for BK but from my point of view, that's your only choice at the moment. Yes, you won't be able to get credit cards for awhile but that should be a blessing for you. You will have to re-start it from zero and build your credit profile again with secured credit cards and so on and maybe, just maybe, banks will give you a second chance.
Be realistic with yourself, how are you going to pay for all these cards + mortgage + groceries + bills and so on, I mean, how can you look for a "gas" credit card if you realistically can't afford gas?! Even if you had a lot of extra money, how much money in gas would you be spending on that credit card to make it worth applying for a new credit card? Even if you were to put $100 in gas every month and you were getting 4% cashback, you'd only be getting $4.
If you "wait" for life to "help you", it won't happen and what I mean by that is that if you keep just paying the minimum payments without bringing a lot more income than what you make right now, the APR will soon be too much for you to afford it, even the minimum payments so you'd have to file for BK anyways.
I do hope you figure out your situation but, at the moment, I see BK as your only option.
