Can't get no credit anymore

Quote Originally Posted by claycourtlesson:

Bankers are out to f--k you over, man.

 

If you use credit cards, pay them off if you can.

 

These banks are shysters from "the land of God," if you know what I mean.

 

Paulson is one of them, and he let them all off the hook with his gd bailout packages that got rammed right up the taxpayers' arses.

 

I am getting really farking pi--ed off now, so I think I better stop before saying something ethnically insensitive.

 

Oh yeah, I just love GOLDMAN SACHS.  Just look at the 2 words.....Goldman and Sachs. 

 

Better stop there.

How are bankers screwing him over (nothing personal) but he is sitting on 33K in unsecured debt.  Why would I loan someone money that can't seem to know how to handle a debt in this environment.  I would guess the guys he talked to about approving him for the cards were laughing their asses off (again, nothing personal). 

So, my simple answer to the original poster is that you appear to be a credit risk and no one is going to give you another credit card.

As for the guy making 100K and no CC debt.  Buy the tv with your CC and pay it off after a month.  Or do something really crazy and sock 100 bucks a pay check for it and buy it out right in 12 paychecks like most of our parents use to do.

It isn't rocket science.

King,

Sorry, I didn't mean to be a jerk.  I just deal tangentially with these issues and I see it all the time.  I see people making 30K buying $500 jackets or 100 dollar pair of shoes with huge CC debt when me and my wife make a nice salary combined 6 figures but not wealthy by any means and would never even contemplate making those purchases (same as you no CC debt, mortgage and a quickly shrinking student loan debt).  I know down the road that eventually when the bill comes do to cover for the people that acted responsibly are the ones going to get their taxes increased to pay for those less responsible.  Just PO - sorry.

No, I am not but deal with it tangentially and just leave it at that.

When did you get those lines of credit.  It is a different ball game, now.

You said you can pay off the 14K account but you would feel the squeeze in case of an emergency.  That tells me you are upside down on your credit i.e. your liabilities out weigh your assets.  Hence my point about them laughing at you b/c they don't want to take any risks on what is viewed as a potential bankruptcy issue.  Sure, you have built up your credit but you still show recklessness with it b/c the debt is unsecured.

I feel for you having to pay interest and trying to lower that amount but that was the deal you signed up with and racked up 30K+ in CC debt (now I have no idea of how you did it maybe it was because of medical bills but I sort of doubt it) and you want to try to lower that expense.  My suggestion is to take half of the money and pay off the higher interest rates and try to get you debt down.  Also, elminate several of your credit cards.  There is no need for 6 cards.

You are just moving around debt.  Why sell a car that you own free and clear and only pay insurance, gas and maintenance on for another car payment particularly since you are not likely going to get the real value of your car right now.  The big three are giving away new cars right now if they can - why would someone buy a used one unless at a deep discount.

I would take 1/3 of the money you have in the bank and pay off one of the credit cards - the one at the higher rate. Then take the money you are going to use for the new car payment and add that to the money you pay on the other card.

The sooner you get out of bad debt - car payments and CC debt the closer you'll be to buying a house.