I was. I used to be a chronic user of credit card. I realize a simple basic truth.Credit card companies give you a credit card so you can spend more...Although I was paying off the credit card due by the end of the
Yes.If you do not pay your credit card debt, the late payments/ default goes on your credit report.After some time, the bank will ‘charge off' the debt/ This also goes on the credit report.What many people do not know: The cancelled debt gets added to your income. Yes, you read that right.The bank will send you
Technically, yes you can do that, although you won't be able to do this in a straightforward manner. Most issuers won't allow you to just key-in another credit card number online to make payment for your card.But there are several ways around this:You can take a cash advance from one credit
If it were me dealing with collection agencies: I'd ask for full details (down to individual transactions on a credit card/utility bill/whatever) of exactly what they're supposedly collecting and what/when it relates to.Ask for those details and never admit you owe a penny ("who me? I don't owe anything"
You can add the money from your SBI credit card to Paytm wallet and then transfer the amount from your paytm wallet to your ICICI bank account.There is a transaction charge of 2.8% approx. which will be deducted from the total amount transferred.Once you have money in your ICICI bank account, you can easily pay your credit card
The short answer is no.First of all, your credit card doesn't have any money
Although there might be a better way to do this with lower fees, one thing you can try is to secure a Square account and card reader (for free), then use the gift card to pay yourself. The money will
With my knowledge and what i looked up I would say NO you can not but I did come across this trick that I thought I would share. Yes I know it is from 2013 so it might be to old. But you
You can not directly pay your one credit bill from another. There is no direct way, however it is possible to transfer your one credit card bill on another with which you can make the payment. There are several alternate methods with which you can pay your one credit card bill with another one.1-
Yes - and no.For a start, because they are seen as a good risk, their debt it much, much cheaper. Sometimes, this can make the interest lower than inflation, meaning they are effectively earning money by taking on debt. Investors buy these bonds because they are seen as safer
They do have credit cards but they don't actually use them, at least not frequently.Ultra wealthy people do not travel or go out alone, even on a date. Nearly all of them would go out with at least an assistant/secretary and a couple of body guards. These entourage would pay for whatever the boss buys, unless the purchase
Highly doubtful, but then again, it all depends not just on the size of their assets - but also how leveraged are they.Truly welathy people are able to get loans, when needed, at almost zero interest rate (based on my experience with the wealth management departmetn of a large international bank).If this sounds as if they're
I do not but did several years ago. It was pretty scary, I was underwater for close to $100k on credit. I had to lock down, pay everything with cash and pretty much stopped my lifestyle while slowly paying down one, then the other then the other. Now I'm
Sorry to hear that but the only help that best to help you out is me and my strategies in helping you you pay off you credit card debts,Firstly,1. Start by Setting a GoalIt's important to set for yourself realistic goals for paying off your high interest credit cards as well as other types of consumer debt (overdraft,
After paying all your debts, draft a feasible strategy and follow it persistently. You can do things like:-Never delay the debt payments be it any: credit card outstanding, existing loan EMIs, utility bills and so on. Everything gets recorded in your repayment history.If you are thinking of applying for a new credit card and you already have
Toxic relationships are dangerous to your health; they will literally kill you. Stress shortens your lifespan. Even a broken heart can kill you. There is an undeniable mind-body connection. Your arguments and hateful talk can land you in the emergency room or in the morgue. You were not meant to live in a
If your account is maxed out and you weren't paying for a while, your account will probably be transferred to a collection agency.From there somebody from the agency will hound you thru your mobile, office and home numbers. If you manage to be elusive up to this point, they will try to contact you thru the social media,
I assume that all these debts are still
hi there,I am glad to hear that you are ready to pay your debt. Did you say free, then in this scenario, better wake up my friend. If you have bills, you have to pay them my friend. It is just like
It's surprising to know most of the people in U.S.A. directly opt for the credit card debt, without even giving a thought to get a loan from a Private Lender.A good amount of people needs personal loans every now and
Toxic relationships are dangerous to your health; they will literally kill you. Stress shortens your lifespan. Even a broken heart can kill you. There is an undeniable mind-body connection. Your arguments and hateful talk can land you in the emergency room or in the morgue. You were not meant to live in a fever of anxiety;
Most of the credit cards are issued based on your income status and range. However, this does not limit you from getting you a credit card. You can check with various credit cards issuers about their eligibility and rules.Many of the credit cards issuers have some
From my perspective, the only real way you can get out of credit card debt is making the decision to never get into credit card debt again. How do you achieve this? Take every single credit card and cut it up and vow to never use a credit card again.
The single best way to pay down your credit card debt is to make a realistic plan and stick to it. It does not matter how much income you make as long as you are willing to make some sacrifices to reach your goal.If you are really motivated,
Start by giving up everything that is not a necessity such as cable TV, anything but the most basic cell phone plan, eating out, expensive food (e.g. hamburger instead of steak), etc. Buy clothes at second hand stores. Used all the money saved to pay down the credit
Credit cards are a trap, and most people don't use them correctly. They see som thing they like or want and charge it. Then instead of paying it off right away they make the minimum payment and continue to charge other items till they finally max out the card. They do this to
Theses days very easily. The main causes are:The availability of Credit as a whole as a
Ideally, you should plan your finances such that you are able to fully repay the debts on time. Simply because credit card debts are the most expensive debts, with interest rates going as high as 40% p.a. (banks quote the credit card interest rate as 3.2 - 3.3% p.m. which comes out
I have had concerns about this in the past at my own company when I had been instructed to use my card to pay for my travel, tuition and expenses for an out-of-state training seminar. The total expenses was on the order of
There are several ways to approach this question.A number often cited is $16,000 per household . This number is chosen deliberately to be high, usually with the goal of shocking us into thinking there is a big problem.This statistic is arrived at by ignoring people with no credit card debt: those without cards, and those
If you cannot (or don't want to) pay off the balance in full every month, then you have too much credit card debt. The amount you're shooting for is zero.Credit card debt doesn't build your credit rating. All it does is cost you 17% to 26% of your money.Don't try to delude yourself into thinking that it's OK. It
$0.00 and have carried that balance since college.Getting a credit card was the worst mistake of my life (and I made some pretty big ones.)Anything I could do with a credit card I can do with a debit card and some money in the
If a wife loves to use husband's credit card to buy expensive goods without his permission, is it okay? They're married but only husband works. What should they do?
If a wife loves to use credit card to buy expensive goods without her husband's permission, is it okay? They're married but only the husband works. What should the husband do?If you are the only one earning then you have probably taken responsibility for paying all the bills. It is probable that your wife has
If I have 5000 debt on credit card A and 10000 debt on credit card B and I have 5000 surplus, am I better of clearing the complete debt on card A or should I make partial payments on both cards?
Depends on the interest rate you're being charged on both cards. All other factors being the same, focus on paying off the highest interest rate card first. (And if you can do a balance transfer to the lower-interest rate card, you can speed the process along by
Congratulations on paying down your debt.FICO scores are made up of 5 factors: How Credit History Impacts Your Credit ScorePayment History (35 percent) - if you go 30, 60, 90 days past due consistently, that will also keep you
Before we had credit cards, we had dealer financing. If you wanted to buy a washing machine, the dealer would offer a payment plan. This really brought modern conveniences to more people faster. I think such financing really improved the overall quality of life.Credit
Payment of credit card debt with a Personal Loan can be a good option. However, it has its own set of pros and cons as mentioned below:Advantages:Personal loans will carry the most significant benefits if you're currently paying high-interest rates on multiple credit card accounts.1. A comparatively lower rate
Yes, you can do this, if you have a zero balance credit card with sufficient credit line and a "no interest during the grace period" policy.There are two ways that interest on "new" charges is calculated:1. Some credit cards (particularly those aimed
Much worse because it is insidious. You accumulate more and more, for 4, 5, 6 years without ever making a payment or seeing how much interest you are accumulating. All your friends treat it like it is
I am not going to go all moral on you, that's just senseless. Giving away loans is calculated business risk, and sometimes the lenders miscalculate. It's obvious that the credit card companies truly made a bad decision when they let you borrow from them. So, when you stop paying them,
There's two schools of thought...which one is better for you depends upon the specifics of your debt and your personality.1) Pay off the smallest debt as quickly as you can, while still making minimum payments on the other two. This gives you the feeling of "Hey,
Step 1: Stop spending everything you earn (and then some with credit cards). That will cause money to accumulate. If you don't have at least 10% of your gross pay leftover every month, you're doing something wrong. Aggressive folks I know easily live 20% below
Should I pay off my credit card debt or build savings? Does the credit card debt make savings less useful?
The first rule of debt is to use the lowest interest rate available (including any finance charges or fees), preferably zero percent on credit card paid off in full every month.First concept of credit cards and high interest debt is to always cut the interest charges by paying off the credit card debt.
I don't know that there is a clear answer to your question.I would suggest under these circumstances that you should talk to a collection or bankruptcy attorney who will go through your debts and income and recommend a course of action. Fifty thousand is typically an amount of debt sufficient to
Credit card debt consolidation optionsThere are various options for consolidating crediting card debt. Each option has its benefits and drawbacks.1. Low interest/no interest credit card balance transferIf you can qualify for another credit card, you may be able to use it to consolidate your credit card balances. There are fees associated
Always pay more then the minimum, as much more as possible, paying more on your high interest ones 1st. If possible transfer high interest balances to low interest cards and if your credit is good and your disciplined enough then open a new card such as Discover It which offers 18 months at 0% and transfer your highest interest
What are some of the best methods of paying off debt and building back credit other than a credit card?
To pay off debt faster and never again get in a situation of debt cycle, a person can take the following steps :Pay the debt with highest interest rate first. While it is common to mistake the largest sum to be your biggest debt, it is important to note, that more than the principal
The trick is to spend less than you make so that the extra money can go toward debt. Actually, the trick of life is to spend less than you make, no matter what your situation. In this case, often low
My first suggestion would be to get on a budget. List all of your debts that you owe each month and your income. Next prioritize your credit cards based on due date and Interest Rate. List your minimum payment and also leave a space
Shop around for a credit union to join. In the process of shopping ask about a lower limit, possibly single digit rate credit card. Credit unions tend to be much more consumer friendly than all but smaller local banks.Offer collateral such as home equity, savings, investments or retirement accounts so as to
If you live in the US, the implications can be rather broad unless you choose to live completely off grid. The legal implications of refusing to pay credit card debt would need to be addressed by someone else. The basics of what will happen from a financial perspective are summarized below. While working
The statute of limitations on credit card debt ranges from 3 to 10 years, depending on the state. (The state is specified in the credit card agreement, which may or may not be the state you actually lived in). The list can be found here: Statutes of limitation
RULE NUMBER ONE:STAY AWAY FROM PAY DAY /SHORT TERM BORROWING ! THAT MEANS PAYDAY/WONGA/ QUICK-QUID TYPE LOANS ! They will kill you.Obviously, never get in to the position in the first place- but I am a realist not a
Do you have a DVR? If you don't I apologize, it is an apparatus that allows you to record your favorite television shows so you may watch them at a later date.Now DVR's, like credit cards, are awesome. You don't have the time (money) for something now so you put it on your DVR
You really don't have to do anything to build credit from your first credit card.You can make one purchase, pay that off by the due date, and not use it again. Each month thereafter, your account will be reported as being in good
The consequences of not paying off some debts before others can lead to more financial hardship.Carlos was making a six-figure salary as a Logistics manager in Georgia when in the summer of 2013 he realized he couldn't afford to take
The answer to this question is easy, the execution is a bit tougher. The obvious answer to any refinance is that you want to refinance to the lowest rate possible, over the longest term possible. Doing that results in the smallest monthly payment, and reduce the interest you
As a former banker, let me tell you how best to use your card. You'll gonna love this. First you need to understand how CC (credit card) works (this is in Malaysia). Don't forget to read the last paragraph!Your usage of 1st - 30th each month, need to be paid by 20th the following month (due date). If
As with any goal, discipline and taking advantage of intelligent opportunities are key.First, establish a monthly payment commitment toward repayment of the debt that you're confident that you can maintain, and then stick with it. If your budget permits, I suggest a monthly payment that covers the current monthly interest charge plus 2.5% of the current balance. If your
What tricks and tips do you follow to lead a debt-free life? What would you do differently to avoid debt now? Most live off of credit cards today, how can we change the mind set of this and next gen?
From young age I have always avoid debt, except two mortgages. The second mortgage is there because I had to start al over when I was 50. But after nearly 5 years already 35% of the principal is payed back.So
In my opinion, Credit Cards from Kotak are good as they provide a wide range of attractive discounts and services.Ever since their invention, credit cards have transformed the way the world transacts. For millions and millions of users, they have made
As a general rule, credit card issuers do not accept payment using a credit card
Credit in general is like a knife. Knives are versatile and useful in many everyday situations. However, it will cut you if you use it improperly or abuse it. Credit cards have the additional harm of being readily available for
Why do people with no credit cards and zero debt have worst credit scores than people with lots of debt?
The question is an example of the basic misunderstanding of the purpose of a credit score. Lenders, credit card, car loan and mortgage lenders, need to know if you will pay back the money you borrow. People who pay their credit card balances in full every month are not actually building up a payment
Why do restaurants seem to be able to take what they want (hopefully what you wrote as tip?) from your credit card in USA?
Thanks for the A2A.Restaurants cannot
Simply because everything is so expensive. If it wasn't the biggest sellers of stuff wouldn't be able to maintain their (every year) increase of profit.That and the cost of putting a roof over your head.In the UK renting somewhere to live has become more and more expensive to a point where people need to borrow money to
Assuming you did not close every every account, as long as you charge something and pay off every month, you won't accumulate debt but you will maintain the accounts and continue to build credit.This is what I do and I checked my credit score yesterday and it is 883. I've been doing this for about 5 years so
Different cards have different methods of calculating what the minimum payment is, but I'm not aware of any that have a formula that results in a minimum payment that's less than the interest charged each month. Now it's possible that if the card has
Get Better Interest RatesA better credit score will also lead to better interest rates on your credit cards or other loans. Better interest rates mean less money spent paying off the loan, as well as lower monthly payments.Have More Negotiating PowerTo a bank, a person with good credit is a stable asset with a guaranteed return.Get Better Interest RatesA
What happens if I have a gym membership, didn't realize it was a 1 year contract, decide to pay cash instead of charging it to my credit card, then stop paying, what would happen?
Well, not all gyms would let you pay cash without either, 1) Paying the full year in advance, or 2) Offering a credit or debit card to be charged if you neglect to pay.If the back-up card didn't work, or if they didn't
No, you tell the person at the door that you don't have your card. They will point you to the membership services desk to get either a temporary card if you just don't have it at that time, or they will create you a new permanent card if you lost/destroyed your other one.Super simple. The hardest part is waiting
I get fraud calls two or three times in a month. And they also ask me the number of my credit card. Why do not they have any fear?
Just to add humor...one of my friends like you always receives such calls giving him insurance policies free of cost or credit cards free etc. He either tell them that he was in jail for murder and he will be thankful for a credit card or that his cibil score is 300..i suggest you adopt either of these
What can be done, if anything, if someone falls for high pressure sales tactics over the phone for an expensive program where there money is taken via credit card? The sales person says there are no refunds on the purchase. Buyer's remorse sets in.
There may be a cancellation clause in your nation or province's legislation.The easiest way to check this would be to telephone the office of your provincial or federal member of Parliament and ask. You don't need the member, the office staff should be able to confirm this.Then phone the 1–800 number on your credit card and ask for a
I have given my wife a specific card of mine at times, because it has a special offer/promotion on it, or it just hasn't been used in a while. Unless the cashier is really picky its rarely an issue, you slide the card at the register unless they notice the name is that
I believe NY is a marital property state, which means any debt acquired "during" the marriage will be split 50/50. Some exceptions may exist if he simply went on gambling sprees without your knowledge, which would not have not benefited the marriage, but the more you knew about