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If your credit is good enough you can apply for a signature loan or "consolidation" loan at your bank to pay off the credit card and just make the loan payment. That is what I did with all my credit cards. If your crfedit is not in that good of shape then you can try a debtr consolidation company like Consumer Credit Counseling or you can try a Debt Negotiating company. The difference between the two are that with a consolidation company, you send them so much money and they split it between the creditors. With debt negotiation...you put money in a savings account and when you accumulate so much money the company will negotiate with your creditors to get them to except less than what you really owe.

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โˆ™ 2006-03-22 18:22:28
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Q: What can you do if you're trying to pay off credit cards but the minimum payments are so high that you can't get ahead the credit card company will not lower the rate despite on-time payments?
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Related questions

How do you get into credit card debt?

By using them & only making the minimum payments.


What are the minimum payments on a credit card?

Depends on how much you owe. The more you owe, the more the minimum payment.


Why is it unwise to pay minimum payments on your credit card?

It is unwise to pay minimum payments due on credit cards because the payment will cover only a small portion of the principal amount and more on interest and financial charges.


What can you do about a mortgage company that does not report your on-time payments?

Call the mortgage company and ask why the payments are not being reported (its illegal to NOT report payments) Further, you can call the credit bureaus, and they will request the information from the mortgage company. Realize, that in some instances credit reporting can be suspended.


Why not make minimum payments on credit cards?

You pay longer & more interest overall.


can a credit card company like capitol one who forward account to legal dept in state of california take garnish payments out unemployment if nothing can be resolve out of court?

You should not avoid paying the minimum due in your credit card account. The credit card company does not care if you lost your job. What you need to do is to speak with a credit consolidation agency in your area. Ask around about their reputation. The credit consolidation company will make a deal with your credit card company.


Can you close your credit card account and continue to make payments?

No, what usaully takes place is that the credit card company freeze your credit card account and you continue to make payments


What company has the lowest interest credit cards?

Interest fees vary depending on the credit card company. Most companies apply interest based on your credit score and credit history. To obtain a lower interest rate, increase your monthly payments or make payments more frequently. The more payments you make the lower your interest will be.


Credit Card Minimum Payment Calculator?

Credit Card Minimum Payment Calculator Use this calculator to determine how long it will take you to payoff your credit cards if you only make the minimum payments. Enter your credit card information below and press "View Report" to see your payoff details.


Where can free software be found to allow a company to accept credit cards?

Several websites offer services where a company can accept credit card payments for free. The Site Wizard is one site that will guide one on how to accept credit card payments on their website.


What happens if you only pay partial payments on your credit card payments?

You MUST make the minimum payments or the company will come after you. If you just make the minimum payments you will eventually clear the debt but the rate of interest on credit cards is very high. If you are having trouble financially the first thing to do is to stop using a credit card (cut it up) then if you can not afford the minimum payments go and seek help from a third party (in the UK a free advice centre) - they will help you with your debt problems and will be able to get the interest on your card debt stopped - (you will still have to make small payments to pay off the debt but if you meet these the debt will no longer grow). Also some debts are more 'important' than others - your taxes, mortgage, rent etc. A credit card is an unsecured debt and you will not be sent to prison for it or thrown out of your home. Get Help!!


How do websites accept credit card payments?

Websites accept credit card payments through companies that offer payment and transactions processing services. The company processes payment, takes a fee and forwards payment to the company.


Where can one find information on credit card payments?

To find information on credit card payments it is necessary to contact the specific company. Over the phone, the website and in person are all ways to get the information.


What does a credit card debt settlement work and how does it affect my credit?

Usually, they contact the cc company. Negotiate a lower rate. You pay the settlement company directly instead of the cc company. The effect varies depending on the cc company and the credit report company. It may say that the account is in some type of deliquency despite the fact that you are paying it off. It may just say the account is closed and show your balance (which still lowers your score because it increases your debt to credit ratio since you have a balance despite no credit available.) It won't be horrible on your report though. You can still have good credit despite doing this.


How do credit card companies stay affluent when so many card owners are in serious debt to them?

Credit Card companies issue terms concerning interest rates, that the user must agree to as part of the condition of being offered credit by the issuing company. If a user pays only the monthly minimum amount, required by the issuing company, the issuing company can charge a monthly interest rate that has nothing to do with the actual amount of credit used by the user. Issuing companies can also charge an Annual interest rate. In addition to interest rates, credit issuing companies can sell a debt to a Debt Collection Agency, if the user defaults on a pre-determined amount of payments. It is actually more lucrative for a Credit issuing company if a user does not pay their balance in total and only makes the minimum monthly payments


Does debt consolidation decrease credit card payments?

This is the Website that i found most helpful when looking for info on Does debt consolidation decrease credit card payments. here is the website www.bankrate.com/calculators/.../minimum-payment-calculator.asp... - Cached


How are credit accounts affected when another company buys them out?

When often another company buys a credit card company, they have purchased your account. Most often, it is business as usual, and payments are directed to the new owner of the account.


Where can I find calculators for Credit Line Payments?

Any mortgage company would be able to calculate the payments for you. Banks and credit unions are also a good place to start, if you want to do it yourself then the internet will have site you can use.


Do credit card charges increase if you make a few late payments?

Depends on the credit card company. If you are constantly late with your payments you have to pay the late fee and some companies may charge you a higher rate.


Which company is this with telephone number 072052499?

First Gulf Bank Collections department - Credit Card Payments


When a vehicle is purchased on credit for a husbands company by his wife and the husband does not make the payments who's responsible?

The wife is responsible as she was the one who signed the credit contract.


What is Minimum Payment?

The smallest amount of a credit card bill that a consumer can pay, to remain in good standing with the credit card company.


How soon before filing bankruptcy can you stop paying credit cards?

You need to notify the Credit company, once you've done that you may suspend payments.


What is RC loan?

RC loan refers to Revolving Credit Loan. Revolving Credit is a line of credit, which maybe used whenever a company needs funds. Usually, such credit doesn't have fixed number of payments.


Of these allows consumers to pay for purchases at a later date debit card credit card ATM card checking account?

A credit card allows you to pay for purchases at a later date. Credit card balances have a minimum payment due, but by paying more than the minimum, you save on interest payments.