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  1. #21
    gold dust woman
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    I used InCharge Debt Solutions in the past, and I was able to pay off over $10k in credit card debt in about 7 years. My sister is using it now, and it's saving her about $300 a month. I know that some companies are scams, but InCharge is not.

  2. #22

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    Quote Originally Posted by sk8er1964 View Post
    I disagree. You should keep at least one open - with the highest limit possible - and don't use it! Well, charge something on it each month, like a small recurring bill and then pay it off each month so they don't close it. The reason being is that one of the criteria for the credit score is debt to possible debt ratio (can't remember how they put it). In other words, the closer you are to your maximum allowable debt the worse it is for your score. If you have an open card with a lot of available credit on it that is a good thing.
    Quote Originally Posted by Anita18 View Post


    I think there are differing opinions on what is better. I have two open accounts that I simply don't use, and whatever credit I DO use (from 2-3 other cards), I always always always pay off the entire balance every month. I'm not sure what would happen if I closed my unused accounts, but my score is excellent. It really surprised my financing guy when I was buying a new car. So it's working for me. I think you just have to find what works for you - obviously having a huge credit limit (seriously, my limits across all my cards is close to half my yearly salary) doesn't affect my usage any, but if you're afraid that having open accounts would tempt you more to use that credit and carry a balance, then close them.

    I had 13 credit cards that were paid off and another 4 plus our house that we were still paying on when we got my present car. We had a perfect pay history with Ford Motor credit on the car we were trading in and even before that on my other cars, perfect pay history on our house, and perfect pay history on all those cards (as I said I wanted to get out from under it...lots of medical bills from when my son was a baby). But those open paid off accounts made us unable to get the 0% interest rate that we had enjoyed in the past. If you pay off the balance every month on a cc then that's a different story because they are reporting the way you pay every month. If there is an open account that has no balance on it then that's where it hurts you. So, if you aren't going to use it, close it.

    I also work with credit ratings every day. I see this more and more of lower approvals because of open accounts. Higher approvals for accounts that are closed or that have great pay histories. Also debt to income ratio plays a big part in some cases too.



    Quote Originally Posted by Veronika View Post
    I used InCharge Debt Solutions in the past, and I was able to pay off over $10k in credit card debt in about 7 years. My sister is using it now, and it's saving her about $300 a month. I know that some companies are scams, but InCharge is not.
    InCharge is the one I used. The only thing I didn't like with them was when I paid off all my accounts they wanted me to keep paying them their "donation" a month. Don't think so!
    Have you hugged your kids and told them you love them today?

  3. #23
    Shadow dancing
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    Quote Originally Posted by redonthehead View Post
    I had 13 credit cards that were paid off ...
    That was the problem. You have to walk a fine line. Too much crdit available on credit cards, then they are afraid you will run up debt when you get in trouble. One (maybe two) major, a couple of store cards, and that's it. The high number of 13 probably raised the red flag for you.

  4. #24
    Zamboni Zombie
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    Quote Originally Posted by MacMadame View Post
    Did he say what to do if you can only take care of 3 walls?

    I think he has some good ideas but I think my best bet in the long run is to get a new job. Then none of this will be a problem any more.
    Ouch. I think you're right - he would say something like you have an income crisis and to get work as soon as you can.

    In the meantime, yes, you take care of what you can and learn about how to best deal with the one you can't. ((((((((Hugs))))))))))
    Cigarettes are like squirrels. They are perfectly harmless until you put one in your mouth and light it on fire. -- @ciggybuttz on Twitter

  5. #25
    Registered User
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    Quote Originally Posted by sk8er1964 View Post
    That was the problem. You have to walk a fine line. Too much crdit available on credit cards, then they are afraid you will run up debt when you get in trouble. One (maybe two) major, a couple of store cards, and that's it. The high number of 13 probably raised the red flag for you.
    Yeah I have 5 cards, three of which I actually use one way or another. Like, one card is solely for online charities, and the two others I carry in case I get a fraud alert on one of them. Chase has been getting quite trigger-happy on those lately.

    13 is quite a lot!

  6. #26

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    One AmEx, one MC, two Visas and 3 store cards for me. I've had the AmEx since 1976! I think my next newest one is from the 80s.
    AceOn6, the golf loving skating fan

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