Trying to get a new card with high limit.

[pip3man]

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@Anonymous wrote:

Going to pay off as much as I can by the end of November and figure out what card i need to apply for so I can transfer that awful amount to a new card. 

I don't want anymore credit pulls for a new card since i only have 2 inquires on transunion and 5 on equifax but if citi denies me then maybe that'll be the route?

 Maybe ask Citi simplicity to raise my limit $4000 more so its at 6 grand (maybe they'll give it to me if i ask nicely since it'll be paid off? But I did open it on May 1st :/

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I don't have much to advise but I'm gonna chime in bcos u mentioned ur gonna attempt raising the limit on ur Simplicity card. Keep in mind ur TCL with Citi can't be no more than 12X ur monthly income or 60% of ur annual income. And also if ur credit utilization is 75% or more ur approval has to undergo a second level of scrutiny and that's if they even approve it

[Anonymous]

@pip3man

Question for you.  I may have missed it before, but do/did you work for Citi?  You seem to know a lot about their policies.

[geekmama]

calisunshine94, not trying to pile on but for future reference. It's better to have the hospital bill. 1) They don't charge interest 2) They will make reasonable payment arrangements 3) They can help see if you're qualified for any type of charity care.

Best of luck to you!

[Anonymous]

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@Anonymous wrote:
The main reason why my balance is so high is cause I had a pretty bad accident tand had no other way of paying for it unless I wanted a huge hospital bill on my record forever. I never got taught that much about credit and all I knew was as long as you pay the minimum payment you'll be fine. I never pay the minimum it's normally $100 or so more. I think I'm doing pretty decent for a 23 year old.. Most people my age have no idea about credit etc. And trust me I learned my lesson but health comes first. I just wanted to figure out what card was best to transfer that huge balance too so it gets paid off within the year. I normally send about $500-800 a month depending on other bills etc. At least I don't let them go past due and I'm trying that's all that matters.

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Sorry to hear about your accident.  If you ever have to have medical treatment in the future, do not mention credit cards.  Ask people, repeatedly, for payment terms on the medical treatment.

Many hospitals and clinics will offer payment arrangements that you can afford, without having the charge it.  I can afford treatments with cash in savings but I've made payment arrangements on 100% of my medical treatments over $1000 -- one time I did $15,000 of work and got offered a payment arrangement with no interest over 48 months for LESS than $15,000 as long as I paid cash/check for each payment.

Keep this in mind in the future.

For now, go and sign up with Uber and drive people around -- you can make $10-$20 an hour on your free hours.  Also look into Instacart and Lyft.  I know a bunch of folks in the 20-30 year age group who are earning more from driving rideshare or doing grocery shopping than they do at their 9-5 jobs...

[joltdude]

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@Anonymous wrote:

Going to pay off as much as I can by the end of November and figure out what card i need to apply for so I can transfer that awful amount to a new card. 

I don't want anymore credit pulls for a new card since i only have 2 inquires on transunion and 5 on equifax but if citi denies me then maybe that'll be the route?

 Maybe ask Citi simplicity to raise my limit $4000 more so its at 6 grand (maybe they'll give it to me if i ask nicely since it'll be paid off? But I did open it on May 1st :/

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I got a few hints for you...

Doing what you can on that Chase card is definitely a good idea...

Really should check the rebuilding forums.... At least by starting now you can plan and try to make some more sacrifices before you get hit... 

Some other tips.... If your thinking of trying for a Discover BT deal... Even not.. if you want a free Fico score monthly sign up for credit scorecard... The day you subscribe starts the 30 day cycle... This is twofold...  it "might" save you a second pull from Discover because it seems they use the SP (good) with the HP used for applications... but as always YMMV... But it will give you at least one of your scores and put you on their radar... if you decide to go for it closer to the chase expiration... And youll know monthly what one of your real FICO scores are... 

That Utilization is a big problem... ideally youd bring everyone down enough so your not in a maxxed state.. (forget the percentage).. 

A BT is likely not to be the full solution... your likely NOT to get a big enough CLI but it still might help you... even if you cant transfer it all out..

I wouldnt worry so much about HPs..  not saying to friviously app but if you have to app for something  spending a few HP is a necessary evil but id hold off as long as you can to try to get your balances under the maxxed out state... No use apping for naught...

One thing that iv found useful.. is try to pay slightly over the minimum on every card as soon as the bill comes in, and then make another round of payments near the end of the month... Heres where id put the emphasis on CHASE.... Do what you can to try to get to this... 

Again.. really start reading the Rebuilding forums... they can help you in this situation.. Esp if you come clean of your predicament and listen to folks who have been there...

Looking forward to seeing your progress...

-J

[Anonymous]

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@Anonymous wrote:

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@Anonymous wrote:

Trying to pay off as much as I can but its hard when you only make $12.50 an hour and have other bills and need to eat! haha. 

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You make $12.50 an hour and want to continue to put off paying your bills by transferring balances to new sucker banks who you think don't know you can't pay them back?

When you got into this credit game you promised your word was good.  Seems like you want someone else to take a loss so you can continue to gain.

Your credit score is an indication of your long term ability to pay your bills.

You should never go over 30% on one single card.  A $30,000 line of credit does not mean you can spend $27,000 and make $100 monthly payments.

You might need 7 years off to learn a lesson.  Try Ramen Noodles for 3 or 4 years.  haha.  Sorry but you struck a nerve.  I would go 30 days without food before charging on a card I knew I could never pay back.

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This is very unconstructive post.   Credit cards really serve no useful purpose. And if everyone just used them resposibly the big banks would end giving them out.  

[AverageJoesCredit]

Sorry, just want to add that things happen and lessons will be learned. Op i was in same boat when i was younger. When you arent taught the dos and donts of proper credit card use, its hard to do exactly the do right not everyone can look at a credit card and not use it

[NRB525]

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@Anonymous wrote:

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@Anonymous wrote:

Trying to pay off as much as I can but its hard when you only make $12.50 an hour and have other bills and need to eat! haha. 

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You make $12.50 an hour and want to continue to put off paying your bills by transferring balances to new sucker banks who you think don't know you can't pay them back?

When you got into this credit game you promised your word was good.  Seems like you want someone else to take a loss so you can continue to gain.

Your credit score is an indication of your long term ability to pay your bills.

You should never go over 30% on one single card.  A $30,000 line of credit does not mean you can spend $27,000 and make $100 monthly payments.

You might need 7 years off to learn a lesson.  Try Ramen Noodles for 3 or 4 years.  haha.  Sorry but you struck a nerve.  I would go 30 days without food before charging on a card I knew I could never pay back.

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Too harsh, does not consider what OP already clarified about "life happens" 

An apology would be appropriate. 

[NRB525]

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@Anonymous wrote:
The main reason why my balance is so high is cause I had a pretty bad accident tand had no other way of paying for it unless I wanted a huge hospital bill on my record forever. I never got taught that much about credit and all I knew was as long as you pay the minimum payment you'll be fine. I never pay the minimum it's normally $100 or so more. I think I'm doing pretty decent for a 23 year old.. Most people my age have no idea about credit etc. And trust me I learned my lesson but health comes first. I just wanted to figure out what card was best to transfer that huge balance too so it gets paid off within the year. I normally send about $500-800 a month depending on other bills etc. At least I don't let them go past due and I'm trying that's all that matters.

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Good luck on the paydown of these cards. 

As others noted, in future, if a delay anticipated for payment, best to discuss a payment play with medical professionals, rather than paying with a card. 

[Anonymous]

You can call the CC companies and ask them to reduce your interest for a short period of time, that way your payments make a bigger dent?

I actually wasn't a big fan of Dave Ramsey. I started with "How much can I afford to pay in CC bills" -- I came up with a pretty hefty figure, then divided that amount by how many CCs I have. I had three of them paid off within 3 months.

I know 12.50 isn't a lot. And I'm sure you've done everything you can to work your budget. But even little things like, say I can afford to give Capital One 100 bucks a month, I give them 50 every other Friday. That's when my check hits and that's when they get their money. Sometimes, by that very next Friday I have 300 bucks (along with everything else in my budget) to last me a week, and between me, my husband, and our 1.5 year old it can definitely be impending. But we also have 2 savings accounts with 6 figures in them, one for a kid with 4 figures in it, and in essence will gain BACK my astronomical credit card bills by the end of the year because they'll all be paid off. So all that goes back into the budget that I feel like I don't have right now. Shuffling 25 bucks here or 57 bucks there isn't good enough for my psyche. And to me, it's a hamster on a wheel. We cut cable, we quit eating out, we put getting my husband's new car off until Q1 next year, etc etc. I took 7 months off when I had my kid, effectively cutting our income in half trust me I know the feeling of treading water. But until those utilizations go down, you most likely won't get an increase or approved for a high limit card.