Card Credit Debt Student

I have some left over student loans and some credit card debt. I wonder if I should just save that extra in case I need it for some unforeseen thing or just pay off the cards?

Its never a good idea to pay off debt with another debt. Credit Cards and Loans are debts. However given the situation if it were me, I'd pay off the credit cards asap. Hopefully you have the type of loan that you can repay after you graduate from college. If you have to pay it off that way then do what you need to do, however once its done, never do it again. You don't want to end up in a worse financial hole.

EDIT: btw, I don't suggest cutitng up credit cards. Credit is a part of life. Just be responsible. Learn to trust yourself. It takes time learning how to be responsible with them but keep at least one credit card.

One day you will need your credit to buy a home of your own or anything else that you want to do that requires credit. A lot of jobs nowadays pull up your credit check, its their way of seeing if you have a good credit score. They figure, good score...good employee. Its their cheap way of doing a background check.

2009-02-15 22:23:35 by DoggyDooDoo

Do you know the real cost of using a credit card? Robyn Beck does - now.

I currently have Credit card debts and Student loans going to kick in in January. I am looking at trying to buy a new car hopefully in the next couple months and I am worried about what my credit is going to reflect and also my DTI. My credit cards currently equal about $8000. I haven't been the best the past couple months about paying full amounts and being on time (Which has resulted in some phone calls from them =><=) Due to being laid off for a bit. I now am making decent money and can start making a decent payment towards the cards and catch up. Should I consolidate to make my credit look better? Any suggestions?

I found interesting information about your answer & options here. http://all-debt-consolidation-loan.blogs pot.com/2007/08/line-of-credit.htmlGood luck!

2007-08-16 11:27:50 by syrinffxi

Price: $12.95 $12.95

Because of the present high credit card debt and many student loan debt -if we become unemployed how do we pay this money back and it is considerably VERY LARGE-we have mortgaged ourselves tremendously

That is why you are seeing banks and financial institutions take actions to protect themselves. They believe the next credit crisis will be massive credit card and debt default. So, they are setting floors on credit card accounts so that even if the fed continues to cut interest rate, they set a rate arbitrarily below which the rate on a specific account can not go. They are closing credit accounts that consumers have had no activity on for 6 months or more. They are reducing credit card limits for people who are nearing their maximum limits or those who have many lines of credit open with balances. They are also not granting credit to people with poor payment histories, low fico scores or too many lines of credit. They are even calling in home lines of equity or closing them, all in an effort to protect themselves from future default. It would seem that the bailout did not have its intended effect, but rather tightened credit instead and thus far served only make it more difficult for consumers to obtain it.

2008-10-31 08:37:19 by Mikierz

Price: $9.95

I have $55,000 debt in credit card & student loans will Obama create a program for the rich to pay my debts or to at least have the government discharge my debts?

Well he did promise to spread the wealth around. You need to be sure to get a good place in line.
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2008-11-04 21:31:48 by Beltran

I am currently a junior in college and I desperately used credit cards to pay off college since financial aid didn't cover it all so now I owe around 4,000 in debt. What is the best thing for me to do, since all of the accounts are closed, is there a college student credit card debt consolidation loan or?

This happens all the time to college students, credit card companies prey on people just like yourself. I don't recommend debt consolidation. It can back fire and make things worse for you.

Don't ruin your credit score by ignoring the problem. Whatever you do don't be late on any of your payments. Maybe you can pick up a part time job to pay it off. I do credit repair for a living, and you do have other options. If you respond maybe I can help you with this issue. I need more information. Best of luck

2008-06-04 03:00:16 by JJ1231