Macys Amex CLD

[Creditaddict]

I will be the first to admit that I have been revolving very large balance... it's next on my debt snowball!

Oct 1 they reduced CL by $700 to sit within a $1 of my balance.

Store card is not being touched, $10,700 still available

[haulingthescoreup]

Whew, that was quick.

Good luck with the continuing snowball!

[Red1Blue]

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@Creditaddict wrote:

I will be the first to admit that I have been revolving very large balance... it's next on my debt snowball!

Oct 1 they reduced CL by $700 to sit within a $1 of my balance.

Store card is not being touched, $10,700 still available

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Sorry to hear that.

[Anonymous]

It's feels so funny to see "Macy's Amex has arrived!!!" and "Macys Amex CLD" threads side-by-side

[Creditaddict]

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@Anonymous wrote:

It's feels so funny to see "Macy's Amex has arrived!!!" and "Macys Amex CLD" threads side-by-side

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lol, it's actually my 2nd CLD, the first was a $100... yes really a $100!!!

[Anonymous]

CA, just pay it off and be done with it to be honest. I am sorry to hear about the CLD. If I may, do you think you could take some $$ of savings and get a secured loan? I mean the CU I work for and other that I know offer a secured loan at like 2% over what they pay you for the savings. I mean this is an easy and a cheap way to pay of the debt and then you pay the secured loan - plus after you pay off the loan - you get your cash back - with interest... what do you think?

[Creditaddict]

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@Anonymous wrote:

CA, just pay it off and be done with it to be honest. I am sorry to hear about the CLD. If I may, do you think you could take some $$ of savings and get a secured loan? I mean the CU I work for and other that I know offer a secured loan at like 2% over what they pay you for the savings. I mean this is an easy and a cheap way to pay of the debt and then you pay the secured loan - plus after you pay off the loan - you get your cash back - with interest... what do you think?

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I actually hadn't thought of that... something to consider, thanks... keep you posted

[haulingthescoreup]

For those in a similar position, I'd think long and hard about this. You have to be pretty dang sure that you won't promptly run up your cards again and then have both new CC debt and installment debt to deal with.

This is dynamite (in the bad sense) in the wrong hands...

[Creditaddict]

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@haulingthescoreup wrote:

For those in a similar position, I'd think long and hard about this. You have to be pretty dang sure that you won't promptly run up your cards again and then have both new CC debt and installment debt to deal with.

This is dynamite (in the bad sense) in the wrong hands...

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This is very true... However for me the only reason this card got ran up was for a business expenses and that business is gone now... I tried to keep it running longer than I should have!

[haulingthescoreup]

As I said, it was just a general note.