Okay so I received an e-bill today from Bank of America saying I owe 0 by next month, even though I paid my bill for this past month. The lady on the phone was only able to reduce my late fee charge in half, so instead off a grand total of 0 it is now around 0. So she said pay the 0 now (so yes I had to pay 2x), and I owe the next 0 by next month. Then she transferred me over so I could see about reducing my rate (which would help tremendously). Well, no instead my rate has been increased to 24%, because they just now discovered a collections from 2006 (a screw up in which my insurance never paid my doctor visit, but I made sure to pay off the collections agency). Is this going to mess with my other credit cards. Is this going to screw up any chances of receiving a loan or a new card with a credit limit of 10k (I have about 10k in debt on all my cards, and I just want to consolidate them). Any advice would be appreciated. Any suggestions on where I can get a loan for 10k or a card that can guarantee a limit of 10k with a low rate. PS my credit is around 670-680 (even though it is probably going to lower because of the stupid bank mistake). Thanks and God bless.
In reference to the person who said I need to get my spending under control. None of this money was frivolously spent. It is amazing how fast college and dental surgery and a small down payment on a working vehicle can add up on your credit. If it wasn’t for those things I would only be like 0 or so in debt, if even that much, and that small amount I could pay off super easy.
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Mon, Mar 29, 2010
March 29th, 2010 at 5:03 pm
I think you should apply for a no interest card and transfer your balances.
Its shouldnt effect your other cards. A Fico score of 665 and up is good credit. You should try to dispute that old collection. Go to http://www.annualcreditreport.com and pull up your free credit reports and dipute that collection account and they may remove it for you.
I agree that person doesn’t know what you are spending on and it certainly isnt any of his business. He needs to get his mouth under control.
Good Luck
(Next time when you get a collection account send them a debt validation letter if that doesnt work get a pay for delete agreement)
March 29th, 2010 at 5:03 pm
If you have anything of value to use as security (paid for car, home, etc.) go to a local credit union and see if they can help you out.
If you are able to get a loan to pay off these cards, don’t open any others until your loan is paid off. You need to get your spending under control.