@Anonymous wrote:
@Anonymous wrote:
@Anonymous wrote:
Sorry OP - This might not work, but have you thought about getting a loan to pay those CCs off? or maybe a loan for an amount enough to bring your UTL lower?
I personally have not heard any case of AMEX or Citi following on Chase's steps on CLD when UTL is high. Chase will for sure be watching closely (not to scare you) so try to pay them fast if you can.
Appreciate the advice. I had a consolidation loan but paid it off early because I realized it was just encouraging me to spend even more. I will be pretty aggressive paying down my CSR because it's my day-to-day card and it has the highest interest rate - it will take time to pay down the other two cards.
That's good that you recognize you may end up charging up again and having the loan. Your giving yourself good advise on that!
Honestly, your just not going to know who and when and if anyone will follow Chase. You may be worrying for nothing.
I appreciate the encouragement. What got me into this mess in the first place is (1) rewards chasing - never doing that again and (2) the fact that I get a lump sum at the end of the year (to the tune of $40-50K after taxes). I've rationalized my spending by saying "Oh, that big chunk of change is coming in at the end of the year" and try to keep payments to higher-than-minimum-but-not-enough-to-put-a-huge-dent levels, but then I end up spending part of the chunk on something else, which means a creep in credit spending, etc.
This year, I resolved to try to pay down at least one or two cards and use the end-of-the-year payday for CC paydowns. I paid a good chunk of one of my Citi cards but other expenses came up, which slowed down my ability to pay off.
