Printable View
if paypal is the worst thing that's happened to you, you lack self control---that's all. those of us with obscure tastes can't source our purchases at a local brick & mortar store.
props to you though if you're going to be mortgage free by age 40 though. that's what i'm shooting for...but i still owe about 45k or so.
I've been working on getting my consumer debt back down..I own my vehicles outright at this point, and I'm down to around 500-600 left for credit card/paypl balance. Unfortunately I still have 40k in medical debt hanging over my head that I can't pay.
Sent from my XT1080 using Tapatalk
I did but not any more ;). 10 years left on the house but to be honest with wife and children I don't count that as a dept more an investment!.
Don't cancel any of your cards. Even if you don't use them keep them open because it helps your credit to debt ratio.Quote:
Originally Posted by KeithMac
In all I have 4 Visa's (plus Visa check card), a GE Capital card, a car loan with my bank, and a personal loan with my credit union.
Total credit is $29,000. Total debt is $7,150. (Of that I total debt my mom is taking care of $2,159 (which actually should be paid off next month), and my brother is taking care of $560 since it is "their debt."
I have a $3,000 limit on my card I think.. and about $125,000 in debt. How is that for a credit to debt ratio lol! Two more years and it will be more like $250,000:upset::eek5:
I got rid go all my credit card 3 years ago whe I paid them all off. All I have now is 15 years left on a 30 year mortgage and a car payment for 3 more years. My other 3 vehicles are paid off on have zero credit cards with an average credit score of 770. Was 798 over a year ago when I bought my excursion. So you don't have to have open credit to have good credit. But it helps when you have debt.
Credit score is but one part of the equation. Lenders also look at your debt to income(this is huge), amount of available credit, average balances, number of revolving accounts, length of credit history, amount of recently acquired revolving accounts..
Jeremy
I have had two issues with Discover card fraud and each time Discover called me about, was super easy to deal with, and expidited a new card in each case.
The one time I had to call them about an issue was regarding an ebay purchase paid via paypal. I bought some pistons and rods for my brother as a present but the seller never shipped them. I filed the complaint with ebay and paypal and after no response from the seller they refunded a stupid small amount of the total and said that was all they were liable for. So I promptly called Discover, explained the situation, and in less than a day they credit my card the remainder of the charge.
For these reasons I use them for all my online purchases. I have even shouldered the extra fee of using Discover instead of Visa or Mastercard when businesses don't want to pay the difference in fee between the cards.
I have 6 credit cards, 3 with balances that are fairly minimal and the other 3 are 0 balances. I have a car payment which is high, but the car is worth it, and a mortgage at 196k. Soon I will have one paid off completely as the balance is quite small.
I really like going with local credit unions as they usually do not have huge interest rates. My highest interest rate card is 10.99%, lowest is 0%!
I was crunching some numbers today and thought about this post I made 6 months ago. In 6 months my total debt has went from the aforementioned $7,150 to $2134.72. That's a reduction of over $5000 in 6 months. I only have 3 balances left and as of today the highest balance is $990 on my one card I consolidated some debt onto because of 0% interest. Barring any catastrophes my total debt at this time next month will be a little more than $1300.Quote:
Originally Posted by stealthee