Credit Card Questions

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Replied by smcc on topic Re: Credit Card Questions

Good Morning EJ24NATL:

You will get many replies to your scenario. Everyone here are good people who only want you to acomplish your objective.

First of all its good to know that you realize you have a problem. Half the battle is won.

First of all is I would make a list of everyone that I am in debt to, how much I owe each creditor and how long these accounts have been open.
You don't mention income and how much you allot to paying off your current bills so from here my reply will be based on assumption.

I would prioritize my list by recent accounts first.

Now besides cost of living expenses that we all have, I would take anything extra and apply it to my creditors. If you have paid consistantly on all of them (creditors) then see if you can increase any of those payments. If you have any creditors that you haven't been paying on a consistent basis and the account is less than 5 yrs old (many will differ here) I would call them and make arrangements to pay off the debt.

Realize that paying off your complete debt is an uphill battle, but its a battle that can be won. You have to be consistent and patient as your score will grow as you decrease the amount of debt you currently carry.

You also don't mention how many credit cards you have. If you have more than the two new ones you mention, close those new accounts and concentrate on paying off the ones you currently have. More availability to credit right now isn't going to solve your issue.

As far as credit stories go, on this site you have people in different stages of their credit history. Some are doing real well, some are on their way with encouragement from everyone here and there are some like you who are looking for advice to get them on the right track. Meya, HJM331, COLONATIVE, MYSELF, and others will share stories, give you solid advice and are always there if you need any questions answered. Keep your head up and like I always say, one day at a time, one on time payment at a time, one paid off account at a time, you will get there :cheesing:
15 years 8 months ago #931
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Replied by cireone on topic Re: Credit Card Questions

I believe you could go to your local BofA branch.
15 years 8 months ago #932
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Replied by Billy123 on topic Re: Credit Card Questions

Hello everyone. I had a question regarding my bofa secured visa. I opened this account on 10/08 with a 500 dollar deposit. I heard that you could deposit more money into the secured account to increase your limit. I went online but did not see an option where i could deposit more money. Thanks for the help.
15 years 8 months ago #933
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Replied by ej24natl on topic Re: Help on improving Credit

I forgot to add my scores 561EQ/521TR/521EX
15 years 8 months ago #934
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Replied by ej24natl on topic Help on improving Credit

Hello everyone. I am new to this site. Please bear with me. I have alot of questions. I am frustrated. I need help knowing what to do. I have googled in several times online about improving credit. I see the same information. But, what are you suppose to do when the items are not erraneous on my credit and I have several collections and even a repossession that is 3 years old. I have just gotten 2 credit cards:Tribute and Household cards to establish some type of good credit. Lets face it I was even lucky to get these bad credit cards. I just bought a car in January, because I had no way to work. I do not blame anyone for what I did. I was irresponsible but I do not want to be in this situation for along time. I want a apartment. I want other types of credit from reputable lenders. What do I do? How long does it take for my credit to improve even a little. Can anyone tell me their personal credit improvement stories? Let give each other some hope here?
15 years 8 months ago #935
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Replied by Brian23 on topic Re: Credit Card Questions

Ahhhh, thanks!


That's true, 1 of my best friends is a barber. And you wouldn't believe all the things his clients come to him for advice about (and he does only gentleman cuts); finance, love, home, work etc etc etc... I gotta give you credit there....
15 years 8 months ago #936
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Replied by hjm331 on topic Re: Credit Card Questions

Meya has always been a positive influence on us.
15 years 8 months ago #937
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Replied by Meya on topic Re: Credit Card Questions

Ahhhh, thanks! :cheerup:

Naaah, I guess this comes from consulting clients. They come to you for more than just a hair style. A lot of them come with problems.
15 years 8 months ago #938
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Replied by Espee on topic Re: Credit Card Questions

Meya...god knows i LOVE your posts...your always so positive. Have you been taking Dr. Phil's home course? HAHAHAHAHA

Sorry...i HAD to!!!! :fun:
15 years 8 months ago #939
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Replied by Meya on topic Re: Credit Card Questions

*sigh* I give up.

Never give up, just hold on. You will get some luv from them soon, it's not your turn at this moment.
15 years 8 months ago #940
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Replied by Espee on topic Re: Credit Card Questions

Well...i appreciate the advice..i really do. But i already have a BofA checking account LOL. I have had one for like 3 years. I never use it...just randomly transfer money into it a few times a year. Its kinda like my backup (in case crap hits the fan) checking account.

*sigh* I give up. :white-flag:lol
15 years 8 months ago #941
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Replied by ColoNative on topic Re: Credit Card Questions

Thanks for the clarification, so this is like the credit to income ratio thingy, I am well familiar with that one. Thanks buddie!



No problemo; and I could be wrong, but this is what I have heard. It could also be fraud prevention too. I think the banks are seeing people opening up credit to live off of or run them up to the limits and then walk away. :confused:
15 years 8 months ago #942
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Replied by Meya on topic Re: Credit Card Questions

Thanks for the clarification, so this is like the credit to income ratio thingy, I am well familiar with that one. Thanks buddie!
15 years 8 months ago #943
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Replied by ColoNative on topic Re: Credit Card Questions

I found this to be interesting ColoNative. So now I have a question


Well, they also look at your income. They might see that someone has plenty of available credit relative to their income and become curious as to why one would want more credit. I have heard from several people that BofA has become a little tighter in approving new credit and giving CLI's. In the past, BofA was approving multiple credit cards and giving obscene CLI's.
15 years 8 months ago #944
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Replied by Meya on topic Re: Credit Card Questions

I have heard of this happening to other people lately with BofA. If you don't appear to be in any debt and you already have other cards with low or $0 balances, they will not approve a new account.

I found this to be interesting ColoNative. So now I have a question:laugh:. Does this simply means that if you have enough credit, or have too many accounts with too much available credit, creditors will get curious and will wonder what do you need them for? Please explain, thanks!
15 years 8 months ago #945