credit cards for high utilization + auto loan

[creditwatcher2012]

Enharu I don't want to take early withdrawal on td banks cd----my branch charges me 7% plus I loose last 6 months intrest

[TrishN]

this is troller. Stop Bull.......

[Gunnar419]

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@creditwatcher2012 wrote:
Nj so are you saying, even when my debts are all paid off(will be by beginning of summer) I can't buy a new luxury car?

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Can't speak for NJ, but since I totally agree with what he said, I'll chime in. You will NOT be ready to buy a luxury car until you've changed your outlook on debt and how to manage it. It's not just a matter of paying down some credit card debt, which with your income you should be able to do easily. Please know that I'm not trying to offend you, but all your posts seem to indicate that you don't have a good grasp of financial realities and/or your own personal needs and limitations.

Before you even think about a luxury car you need:

1. To cash out that CD and put it toward cc debt. Or otherwise get that debt GONE and that util under control.

2. Go into the garden. Don't app at all. For anything. Not for a long time (unless your current vehicle is really on its last legs). But especially not terrible little sub-prime, low-limit cards. Let those inquiries age off.

3. Make a budget. Track all your spending. Know where every penny goes. Think like a poor person for a while if you must -- anything that helps you re-set your thinking.

4. You will not be ready for any luxury vehicle until you have a better understanding of money and credit. No matter how much money you make, you will just keep putting yourself into a hole because you aren't distinguishing needs from wants and aren't approaching all this with a long-term philosophy.

Good luck to you!

[enharu]

they charge u 7% plus u lose 3% interest, right?

that is still better than paying >25% APR.

Do the Math.....

You rather pay 15-20% extra in fees (1500-2000 bucks) just to not lose a little interests? This honestly makes zero sense.

The only situation that is better than the one I proposed is to use your monthly salary and pay these debt in full this and next month.

When do your inquiries fall off?
How old are the auto loan lates?

Until you get these 2 resolved as well, on top of your CC debt, you're gonna get a **bleep** loan with a ridiculous rate. They might want a high downpayment from you, such as >50-75%, and the APR is pretty much likely to be a daytime robbery rate. Do you really want this for a 60month loan?

[MovingForward_2012]

How in the world do you have $4500 in pocket money every month when you gross $92K a year? Do you pay taxes, 401K, FSA, insurance...anything like that? My take home pay is $5400 a month after all that stuff and I make $96K per year. $4500 in pocket money doesn't sound like you should be having these issues at all and it surely doesn't show that you have a lot of debt. There is no way you should have to pay the minimum on any credit card.

[CreditCrusader]

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@Gunnar419 wrote:

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@creditwatcher2012 wrote:
Nj so are you saying, even when my debts are all paid off(will be by beginning of summer) I can't buy a new luxury car?

---

Can't speak for NJ, but since I totally agree with what he said, I'll chime in. You will NOT be ready to buy a luxury car until you've changed your outlook on debt and how to manage it. It's not just a matter of paying down some credit card debt, which with your income you should be able to do easily. Please know that I'm not trying to offend you, but all your posts seem to indicate that you don't have a good grasp of financial realities and/or your own personal needs and limitations.

Before you even think about a luxury car you need:

1. To cash out that CD and put it toward cc debt. Or otherwise get that debt GONE and that util under control.

2. Go into the garden. Don't app at all. For anything. Not for a long time (unless your current vehicle is really on its last legs). But especially not terrible little sub-prime, low-limit cards. Let those inquiries age off.

3. Make a budget. Track all your spending. Know where every penny goes. Think like a poor person for a while if you must -- anything that helps you re-set your thinking.

4. You will not be ready for any luxury vehicle until you have a better understanding of money and credit. No matter how much money you make, you will just keep putting yourself into a hole because you aren't distinguishing needs from wants and aren't approaching all this with a long-term philosophy.

Good luck to you!

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King Solomon couldn't have said it better

[TrishN]

lol all this people is funny. his sound not right,then you guy still comment this and that and bla bla bla. ^_~ 

now all i need to say

1 :  history repeats itself

2 : go away for water to be fresh lol ( i just learn this one ) ^^

[creditwatcher2012]

Moving forward. I pay my taxes at the end of the year, call me crazy... They put me on a 20% IRS tax plan, usually there paid off by tax time next year...... I am self employed, remember?

[llecs]

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