anybody on the coli got credit card debt??

[Deflatedhoopdreams]

"Bu.. but TheColi told me Credit Card debt doesnt matter, you just gotta wait 7 years "

I mean it doesn’t if you don’t plan on buying anything on credit for the next 7 YEARS

 

[Sad Bunny]

not really


Kids fukked me completely up, I didn’t adjust and tried to live the same lifestyle with multiple kids


Daycare and weekly expenses

No kids here. Just the wife.

But we are thinking a kid and house in 2020

I'm about to be broke again

 

[InGodWeTrust]

subs

 

[BeeGoinCrazy]

Aye y’all I need help. I’m about to send in an application for a BOA Cash Rewards secured card. Basically it’s supposed to build my credit. Any tips???

 

[Obreh Winfrey]

"Bu.. but TheColi told me Credit Card debt doesnt matter, you just gotta wait 7 years "

MFs gonna get enough of listening to bum ass dudes on the internet

 

[MaxBundles]

Can the ones in here talking about balance transfer explain that to me?

 

[Mensch Fontana]

Can the ones in here talking about balance transfer explain that to me?

Some cards when you open them let you transfer the balance of your old cards on to them. CC company wants your debt, you don't get money just one payment slightly lower with a slighty higher interest rate

 

[Low End Derrick]

i actually in owe 3k to one card and 300 to another but the 300 card keep calling me

the 300 one thinks it's more feasible to get that money from you than the 3k one.

 

[jdubnyce]

thats light work. You can knock that off easy

Been paying it off over the past couple months. Plan on using my Jan bonus to kill it off

The travel points from this card has funded my last 2 all-inclusives to Mexico

 

[UberEatsDriver]

5,000 which will be cleared by March. Then after that I have a personal loan that should be cleared by May.

basically my goal is to be debt free by the time I hit my 30th bday this July!

After that I’m going to use credit cards much more responsibly

 

[PrnzHakeem]

My wife and I put about $5K on our Airline card every month, sometimes more.

Sometimes we pay it off, sometimes we don't. It's worth it for the miles tho.

 

[360dagod]

Its at 1000 now...

Im gonna get these gifts out the way and pay off everything by January or February the latest

So its gonna prolly be over 2k that i gotta dish out when its all said and done

 

[ThrobbingHood]

No kids here. Just the wife.

But we are thinking a kid and house in 2020

I'm about to be broke again

I bet when you say "we" it's her pushing for the baby. No man is thinking about intentionally creating a financial burden when they're struggling. But alot of these women negate that.

 

[ThrobbingHood]

Can the ones in here talking about balance transfer explain that to me?

It has already been explained but allow me to elaborate.

Let's say you have 3000 outstanding on your credit card. Most credit cards give you an "interest free period" on purchases. What this essentially means is during that period they won't charge you any interest on any purchases made during that time.

After the interest free period, if you don't clear the balance of what you spent in full, credit card companies start charging interest on top of that (which is how they make their money.)

A balance transfer is when you move the existing outstanding balance from one credit card to another. They may say "20 months 0% on balance transfers." So if you move your outstanding balance of 3000 from your old credit card to the one with the "20 month 0% balance transfer" one... then you only have to pay the minimum each month on the new card (usually between 1-2% of your outstanding balance) without any additional interest.

Some credit card balance transfer offers may charge a fee (for example they may charge 2% of the balance you're moving over) but there are plenty that don't charge a fee.

Essentially, you should never pay interest on any of your credit cards if you move your balances around and pay it off in your own time. Sometimes your credit card may offer to increase your interest free period so watch out for the emails and letters they send you.

Hope that helps.

 

[Sad Bunny]

I bet when you say "we" it's her pushing for the baby. No man is thinking about intentionally creating a financial burden when they're struggling. But alot of these women negate that.

I am FAR from struggling

I live in a 165K household.

We been would have had kids but I want to buy a house first. And payoff her car.