coda333

Thanks, everyone, for the advice!

Ok... so is there a difference between doing a BT on the cards rather than the car loan, or am I right in thinking that it's all the same?

Thanks Marv. It looks like everyone is thinking I should pay off the cards first. I'm surprised that there aren't any votes for paying off the car as I will be accruing interest on the car and not on the cards (at least until September). It might be me wanting to be done with these car payments already, but it seems to make more sense for me to pay off the car...

My apologies, I wasn't sure which topic would be best. If you think it would fare better in a different section that would be great! I'd also like to hear any input you might have, as you are the expert : ) I wasn't aware of the insurance information, and I really appreciate the info. I'll look into my state laws and figure out what to do. My car is getting old, so it might make more fiscal sense for me to switch up the coverage. I need to do more reading on here! If I pay off the car I would definitely be putting the previous minimum car payment toward the cards. I would hate to have any balance on the cards after the promo is over, but I've been looking forward to having this car paid off for SO LONG that it's tempting.

I'm not sure what you mean by your first question (pardon my ignorance), maybe you could dumb it down for me. I didn't know that my insurance could go down. That opens another can of worms, as my move was to a different state and I haven't found a permanent address. I haven't transferred my title, registration, insurance, or any of those things yet. I'm not sure on the CC rates after promo (I'd have to look to find the exact number), but I'm pretty sure it's 11-12%. My credit score is definitely not an issue and won't be for a couple years. After my car is paid off I'm going to drive it into the ground and save money for another. Opening another card at 0% for a year or longer is a great idea that I hadn't thought of, but I also don't know if I want to open another card. I currently have 3 cards that are all relatively new. I'll look into other cards available with 0% promos, but what would you guys do if it didn't involve opening another card?

Hello all, I am in a pickle here and would like some advice on what I should do. In preparation for a recent move, I was charging everything to a couple cards that had intro 0% apr until September and putting all the money I charged into savings in case it took me a couple months to find a job (yes - quite the risk). I was able to find a job almost immediately, and now I can't decide what to do with that chunk of savings. The way I see it, I can either pay off my auto loan (8.9% APR, $275/mo, $3700 remaining) because I'm still on 0% interest on the cards until September. The only problem that I'm seeing is that I probably wouldn't be able to pay off the entire balances of the cards by September (I have about $3500 on credit cards combined). To resolve that problem, I could do a balance transfer on an existing or new card. However, I'm starting to think it might be a smarter move to just pay the cards off to make sure they're at $0 and keep paying as much as possible on the car... Ugh... I'm thinking my way in circles here and could use a push in one direction or the other. Sorry about the novel (let me know if i left anything out), but what do you guys think?

I think I am going to scale it back. The warranty refund should be deposited within this next week and then I just have to wait until my lender reports the balance. So now my plan is to apply with 5/3, PNC, and the Amex. So I'm really only dropping sears, but I'm too anxious about cutting it down to only 2 lenders and not getting approved for either. Thanks for everyone's opinions!

Well I would like to have at least one more CC with the bank I use for DD at work. I think opening up my experience with other lenders is important to show I can handle more than two different institutions' money. Marv did have a point there, as my APR was already pretty decent and taking the cosigner off the loan wasn't too important. However, I wouldn't agree I'm getting antsy with this one. I have no other choice than to switch banks. Its just about HOW I do it. I would love to do that, but that would involve me losing the length at residency... That's good to know! I didn't know cards don't put as much of an emphasis on length at residency... I guess, like most, I just wish there were a way to know if I was definitely getting approved. I want to apply to enough banks to guarantee approval with at least one, but not so many that I end up with 4 new credit card accounts. We're still dead even at the poll so I gotta see what more people think...

bump! c'mon people...

I'm planning on moving across the country next month and want to take advantage of long length at my current residence as well as prep for opening a new checking account with direct deposit (there are no BofA's in Cincy). I also want to be able to finance ~$500 without using 50% of my available credit. My plan is to apply online with AmEx, PNC, Fifth Third, and Sears (they have a TV I want) all at the same time/in the same day. Whichever out of PNC or 5/3 approves me is the bank I will also open a checking account with. Of course there are a few variables: I recently canceled an extended warranty and the payoff will take $1300 off of the principle of my auto loan, increasing my score as well. However, I may already be moved if I wait until the bank receives the funds. I'm not sure which is more important, the length at current residence or loan balances. I also don't think I would want ALL the accounts either so are there any issuers I should drop from my list? If it's important here is a link to my recent credit application: http://creditboards.com/forums/index.php?s...=426491&hl= SO... What do YOU think? Should I go through with the plan? Anything need to be changed? Should I wait until I setup in Cincinnati and the warranty rebate is applied? Should I try with all those lenders? Anything I'm forgetting?

Go to your nearest CVS pharmacy. Buy some Calamine Lotion. APPLY vigorously to your itchy trigger finger. hahaha ok ok... I'll trust your advice and just continue paying off as much as possible.

As an opinion, I'd leave well enough alone. You already got the loan. Show some stability and continuity, and pay for it for at least 3 years unless you can SUBSTANTIALLY reduce the apr, which I personally would doubt, based on the information that you have provided. 36 months of payment history goes a long way in establishing an ability to pay. And willingness. If I can reduce the APR from 8.9% down to 5% or even 6% I'd save about $25-30 on each payment, which would go toward the principle and save me about $1000 if I only make the minimum monthly payment. So I really want to try. Even if I have to refi on a cosigned loan I'm interested in reducing my monthly payment. I know you said you would leave it alone, but if you WERE going to do it what bank would you apply? do you have any tips, Marv? Thank you for your time!

ok ok! if I have to... haha. what do you think is the safe amount to apply that will maximize my probability of being approved? and what are my chances with my credit history of picking up a loan by myself, without a cosigner?