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I’ve read a few different posts regarding credit on this thread, but I didn’t find a direct answer.
If I have an average/good credit score ranging between 675-700, but my credit card balance is over $5000 does that put me at risk of being rejected?
No prior credit issues by the way, just a fairly large balance.
I don't think so. In the past, it depended on whether the debt were for medical expenses or student loans. If so, then they didn't count. But I don't think that your credit balance of over 5K will hinder your chances.
Time to take a positive direction into changing the way you live. I too use one credit card that gets travel points, however I sweat bullets monthly to pay it in full.
It's time to attack that credit card balance. The best way would be to try to borrow funds from a credit union to payoff the credit cards. Such a note should be relatively short term. But that's only an option if you completely stop charging anything on the credit card(s).
The second option would be to cut up the credit card and attack the credit cards starting with the smallest balance--working your way up. Continue to pay until it hurts--your pocketbook that is.
Recognize that improving your fiscal life is a long term proposition. You cannot work your way out of debt only to fall back into your old charging habits. Good luck!
I am 37 and have been terrible with credit for the last 15 years...I've had many defaults, late payments, credit card debts, and never planned for the future. I also damaged my wife's credit and caused us to be rejected when we applied to buy a house.
Well, I can say we are financially free now. I have now had my lightbulb moment because I found a credit score geek (I call him a hacker) that cleared our debts, cleaned my credit report and increased my poor FICO scores to a whooping 805 and 800 for the wife. The best part is we just bought the house we currently in my both of our names. If this is anyone situation feel free to email them at: CREDITSCOREGEEK @ gmail dot com, and be sure to give testimonies like us.
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No, it doesn't. But if you are selected, try to take the opportunity to clean up your debt situation. RS apartments can be springboards to a decent retirement if you are careful and plan (i.e., put the money saved away), but some people spend the whole margin, only to find themselves stuck in their 60s, unable to afford to move anywhere more suitable for retirement.
I am 37 and have been terrible with credit for the last 15 years...I've had many defaults, late payments, credit card debts, and never planned for the future. I also damaged my wife's credit and caused us to be rejected when we applied to buy a house.
Well, I can say we are financially free now. I have now had my lightbulb moment because I found a credit score geek (I call him a hacker) that cleared our debts, cleaned my credit report and increased my poor FICO scores to a whooping 805 and 800 for the wife. The best part is we just bought the house we currently in my both of our names. If this is anyone situation feel free to email them at: CREDITSCOREGEEK at gmail dot com, and be sure to give testimonies like us.
NOTE: This is not a paid ad! It is appreciation post.
yeah, I would try to get another card with say 0 interest for the first 14 months or something, transfer that balance and try to pay it off before the 14 months are up, it would be cheaper than giving the minimum and gaining interest.
Also , I think in terms of credit and lotteries it could be a case by case. for me Even though i was willing to give the credit check and selected it as my option, they never really checked and went ahead and approved me. so it would be a case by case
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Credit score boost in few days
