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TheDrewbert

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    496
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About TheDrewbert

  • Birthday 11/07/1978

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  • Website URL
    http://www.Cheersandgears.com

Profile Information

  • Location
    Pittsburgh, PA
  • Interests
    Cars, have my own car review website. I.T. consultant. Landlord.
  1. After 3 rounds of Samsung tablets.... I've decided to stop torturing myself with terrible products that do not last. My most recent one, a Tab 2 10.1 utterly useless anymore. I've factory reset it and stripped it down to just a browser and email client, it's so laggy I can't even use it. My partner's iPad, which is actually older, just keeps on going.
  2. it happens but it is rare. paying less interest matters more for long run financial success. let FICO be damned in the short term. I agree with the last part about paying off immediately, but our definition of rare differs greatly. Barclay chased me twice in 5 months, so I said screw it and paid it all off because I'm certainly not giving interest/income to a company like that. Twitchy company's are subprime to me. I've already been chased by Discover, Barclay, and Chase. That was the reason for this post in the first place. Also, my FICO is already at 705+ even with these outsized balances. that's my biggest concern with everything you're trying to do. I speak from experience. I always had big plans and great reasons for all the risky stuff I did. but that didn't make them smart. planning to run the cards back up soon (even if it's "only temporary" for a "sure-fire" investment or whatever) right after you've been holding balances paying an extraordinary amount of interest every month and just finally are coming into some money to pay them off is just not sound thinking. you're thinking short-term and you really should be thinking long-term. whatever plan you have to use these CLs should be reconsidered immediately. then you should follow the other advice in this thread and pay off all balances immediately to cut off the interest. This was a multi-unit apartment building flip that went sour. I'm going to take a break until the end of the year and then start back into my real estate stuff next year. It's not that I intend to run these lines up, I didn't intend that this time, it's that I push large transactions through those lines. Get hidden trades I'll be researching that before I start up again.
  3. that's my biggest concern with everything you're trying to do. I speak from experience. I always had big plans and great reasons for all the risky stuff I did. but that didn't make them smart. planning to run the cards back up soon (even if it's "only temporary" for a "sure-fire" investment or whatever) right after you've been holding balances paying an extraordinary amount of interest every month and just finally are coming into some money to pay them off is just not sound thinking. you're thinking short-term and you really should be thinking long-term. whatever plan you have to use these CLs should be reconsidered immediately. then you should follow the other advice in this thread and pay off all balances immediately to cut off the interest. This was a multi-unit apartment building flip that went sour. I'm going to take a break until the end of the year and then start back into my real estate stuff next year. It's not that I intend to run these lines up, I didn't intend that this time, it's that I push large transactions through those lines.
  4. Yes, my only blemish on my reports is high utilization. I have no lates, no collections, and only a couple inquiries. After closing, two mortgages will be paid off and I'll go from 77% util to 0% util, one car loan, and the mortgage on my own house. My mortgage goes back 15 years, never late. My oldest credit card is 20 years. The bulk of my credit lines are between 7 to 15 years old.
  5. Again, I can wipe out the balances all at once and do plan to wipe out balances in huge percentages if not 100%, either way, I'll be CC debt free by October 31 or December 31 depending on which strategy I pursue. I do have plans for the lines in the future, so I don't want the limits to come crashing down on me. My cashflow will jump by $2k a month after the sale even before these are paid off. I care if Amex balance chases me because I could pay off the entire $33k of a $35k line and then Amex might turn a $35k line into a $5k line. All I'm asking is if I should pay it in 1 payment or 3 payments to avoid balance chasing. I could quite easily wipe out all the small lines and give everyone else 1/3 of the balance in October. The net goal is cards zeroed out by Dec 31 and credit lines intact. Which is the course of action most likely to get me there?
  6. That was my first instinct, just to aim for the highest interest rate cards first... but as I'll be able to wipe out all of the debt all at once, the balance chasing entered into my mind too.
  7. Amex, Chase, and Discover are the ones I'm most interested in protecting as they are my largest. Can you list the CL and balance on each card and APR, please. Where did your siggy go? It was there a second ago My sig was 5 years out of date... I'm an old-timer around here, but I come and go. Amex CL- 35k, Balance 33k, Apr 17% Discover CL - 13.5k and 11k, balance 11k and 5.8k respectively, APR 24.9 and 0 Chase - 16.5k, 10.7k, 2.5k (this was already balance chased), balance 15.9k, 9.9k, 2.1k, APR 16.9, 18.9, 23.9 Barcalays - 10k, 4.5k (this was already balance chased), balance 9.1k, 3.8k, APR 16.49 and 17.9 There are others too, but I don't care about them.
  8. Amex, Chase, and Discover are the ones I'm most interested in protecting as they are my largest.
  9. I'm going to be closing on the sale of a property soon and will net out about the same amount as my CC debt. I want to primarily use the proceeds to eliminate this debt. I have a number of cards ranging from $2,500 to $35k. The big credit lines are the ones most important to me and I don't want to get chased down as I pay them off. My utilization right now is quite high. Do I pay everything off all at once, do I do it in chunks, do I spread it out over time? I am going into this with the assumption that I'll be balance chased, I'm just looking for a strategy to minimize it. Thanks in advance.
  10. If you can get their Virtual Wallet product, it's pretty nice... otherwise, go with a credit union.
  11. They keep pestering me saying that I'm pre-approved for their cashback visa. I have two mortgages with them for rental properties. I don't really need the card.... but I was considering pulling the trigger on it.
  12. Both DH and I got pre-approvals from Fifth Third this week. I'm in the 790s and he's in the 760s (mostly due to lack of history after I got all the bad stuff wiped off). It's 18 months 0% on balance transfers and we have till August 31 to respond. Any updates on this bank/card?
  13. I would quit my job and just dive into real estate investing and my automotive website full time.

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