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Student Credit Card ComparisonPosted on January 19, 2010. Advice for a young student debt credit card? When I turned 18, I made the grave mistake of applying for credit cards. I was so naive that I not load as tomorrow. Now, a year later, I am in financial debt. I'm about 4 K for the credit card companies (I'm also a little wider for student loans, but I will not pay for these after I Graduate College). I know that 4000 does not seem too monumental compared to those due to 20 or 30 K, but for a child to college with a minimum wage job just is a lot. Between 4 maps, I loaded all stupid and was unable to pay the bills each month, so eventually they all went to collection agencies, debt. Since I cut all my cards. I saved about 1,000 work for the summer, and I'm working. Pay off the one with the highest interest rate first. Interest can kill, sometimes accounts for more than half of the debt at the end. Or if you have one with a low balance that would be easier to pay it would be nice too, as he stopped all future interest on this card. I think the advice should be given before your request ... Consolidation is the best solution available for holders of credit cards to improve their future receivables. People go to debt consolidation for many reasons: prolonging the loan period of 5 to 15 years and reduce the rate of interest. Consolidation allows you to go for a loan with lower interest rate than you currently pay. Besides, it simplifies the loan you pay only one lender in place of various payments to different lenders. Hello, It's kind of bad advice, but. . . You're in credit card debt, and you WAN to repay as soon as possible. We assume that you will stop creating more debt. You have changed your habits. You also understand that paying credit card <! - Balances. CommentsThere are no comments.Leave a Comment |