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why i have to B/t

Established Contributor

why i have to B/t

I find myself in too much debt & very very low income. I have been pushing around the cards i have with my Grandma/DH/DW and haven't yet defaulted but am about to for i am just unable to meet all these requirements.


I did give bankruptcy a consideration, however, i cannot put Grandma (G) in trouble with medical condition, 

I could use very good advice here. Income is less than $1000 which goes into mortgage/rent & utilities. everything else needs to be on credit cards.

Has taken me forever to put this table up knowing all to well i m no where near good at Excel or tables. Please excuse my formatting/design/etc.

credit Cards    Balance
 APR DueMin 
FTCCdh 10/11/2018$197.00 5000
   promo 0% ends feb2019
FTLOCdh 11/22/2018$228.00 6382
Discovr G 11/15/2018$35.00 838
 14 mos 0% promo 0% ends jul 2019
Discovrdh 11/28/2018$0.00 0
PPalXG 24.5711/17/2018$35.00 1257
PPalXdw 24.5711/10/2018$35.00 678
SamMCdh 26.2511/5/2018$52.00 2621
WFPG 0%11/12/2018$0.00 0
 0% availfrom nov1 2018 for 11 mos 
SlateG 11/20/2018$25.00 1041
 0% w/no fee until april 2019  
Cap1QsG 25%11/21/2018$49.00 995
USAAdh 17%11/23/2018$72.00 1457
Merrickdw 18%11/5/2018$38.00 1471
Cp1Vendh 26%11/5/2018$33.00 3178
CpQsdh 11/22/2018$25.00 2859
 0% until sept 2019   
AlliantG 11/8/2018$65.00 2275
 0% until april 2019   
PpalCrG 25%11/6/2018$62.00 2425
DCUG 12%11/5/2018$29.00 1669
PPalSyhoo 25%11/18/2018$47.00 1533
  TOTAL$1027.00 35679
Message 1 of 7
Regular Contributor

Re: why i have to B/t

Yes I can see your issue and a nice long 0% BT would be great. But without your scores and the limits of your card for utilization purposes its impossible to know if you ill qualify for any. If you are maxed out I don't see you qualifying. Personally, I would go for the BK because I don't see this being paid back in 5 years or less.

Nov 2019 EX 780, TU 760 EQ 752, June 2019 EX 778, TU 788, EQ 790 April 2019 FICO EX 802, TU 790, EQ 804, Oct 2018 Fico'd EX 817, TU 811, EQ 798
June 2018 Fico's EX 830, TU 817, EQ 824
PenFed Power Cash Rewards $17K (Jan 2018), Discover IT $20.5k(Jan 2018), Capital One $7500 (Aug 2014), Chase Freedom (PC from FU Jan 2019) $4500 (Jan 2018), Sam's Club MC$10000 (Jan 2018), BBVA $25K (Apr 2018) ,WF Propel 15.5k(Jul 2018), USB Cash+ $14K(Jul 2018), Citi Best Buy Visa Platinum $12k(Sept 2018) Digital Federal Credit Union $15k (Nov 2018) BBVA Compass ClearPoints $8100 (June 2019) Williams Sonoma Visa Comenity $2300 (July 2019) Discover it 2 $4.5k (Nov 2019)

Campus USA CU Auto Loan 85k (Aug 2018) BBVA Compass Express Loan $15k (Nov 2018), PenFed personal Loan $27k
Rebuilder Cards: First Permier $1250 closed (6/11/18), FNBO $2600( Nov 2006)

AAoA 2.8 years UT 8%
Store Cards: HomeDepot $12000(May 1998), Saks $800(Oct 1978) Kohl's $2.5k (Nov 2018) AMZN Store Card $8.5K (Jan 2019) Target RedCard &2.5k (Apr 2019) Walmart MC $4k (Sept 2019)
Message 2 of 7
Established Contributor

Re: why i have to B/t

card                               bal


PPal                              $1485
PPal                              $2457
Ppal                               $503

PPal                               $1165

Total                              $5610


cap1 Venture                 $ 3710

Merrick B                        $ 1443

total                                 $  4621



Message 3 of 7
Established Contributor

Re: why i have to B/t

Card.                         Balance

FTMc.                       $4900

FTLOC.                     $6282

toal.                          $11,182


ftmc is at 0% Apr until feb 2019. FTLOC is 14.5% apr. 

so some data points 


EX fico 08 698 inq =8 in 12 mos

EQ fico 08 707 inq =1 in 12 mos

TU Fico 08 752inq = 2 in 12 mos

Util 37% AAoA of 7 yrs 



Ex fico 8 702 inq =3 in last 12 mos

EQ fico 8 716 inq = 1 in last 12 mos

TU fico 8 748 inq = 1 in last 12 mos

util= 7% AAoA of 3.5 yrs. income  income is cash plus $10,000.



now, preselected on DW for 

Amex bce & cash magnet ( ex pull)

FNBO 0% apr (ex pull)

bofa cash rewards (ex pull)


barclays choice privilege visa

chase slate


citi simplicity 

upgrade offer from Chase freedom to unlimited ( expires 12/31; cl now is only 500). 


Loans offer



newegg ( pre-approved)



The real question is getting my desired starting limit. dH has two cards with $12k limit but Dw max limit is $6k  with papal x mc. 


What strategy to use. While dw profile is good & can be made better,  DH could do credit unions like rbfcu or alliant &achieve same while preserving DW profile intact. 


Need just three b/t approvals with high SL.

DW likely apps







Choice privilege barclays



i must b thinking too deeply about what’s good for me while laying out exactly what’s good for me. 



Message 4 of 7
Valued Contributor

Re: why i have to B/t

I would advise against pulling Grandma/DW/DH???? into the mix of your debt at this time. It seems you need to cut as many/much in expenses as you can to pay this debt down. You may also Need to look at what you are spending on that you can not pay for, an manage that better going forward. It may also be a great plan to seek others ways of generating more income.


Yes you can shuffle the debt now, but what happens when you continue to spend and can not make those payments???


Generate more income, curtail your spend where possible, leave gm/dh/dw out of the debt loop, and attack your debt by snowballing it and/or highest interest rate first before the 0% offer payments. 


You have been around this forum for some time, I'm sure you have an idea of what you need to do. You just need to focus and get serious at doing it. Just my two cents, but if you see you need more money go after that.

Fico 8's TU 756/ EQ 754/ EX 743- 8/2020// AAoA 5.7 years // Lines August 2020 = 619k Personal - Business 61k // Inquiries 6 TU - 0 Exp - 0 Eq.
Message 5 of 7
Valued Contributor

Re: why i have to B/t

You have both a husband and a wife?
More cards than I can mention in a signature.
Message 6 of 7
Frequent Contributor

Re: why i have to B/t

@frogman1 wrote:
You have both a husband and a wife?

I was surely wondering who's the OP in this situation, but OP I do applaud your effort for seeking help in what could seem like a drowning situation, with responsiblity there is always light. 

FICOs: EQ - 730 / TU - 735 / EX - 736
WALLET: CL 70K / UT 1%

"An investment in knowledge pays the best interest." - BF
Message 7 of 7
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