I recently took out a debt consolidation loan to pay off my credit cards and have just the one bill – however, the loan didn’t quite cover my credit cards… I also opened two new balance transfer 0% credit cards to help cut the interest of the leftover credit card debt… I still don’t quite have enough to wipe it all into 3 bills – plus, I have a previous personal loan I have 2 more years of paying… what would be the best way to distribute these funds, and balance transfers… so that I’m cutting my interest payments, upping my cashflow so that I’m not

Balance transfer deals can be hard to come by if your credit isn’t great. But some banks are more open to it than others, and Aspire Credit Union is one of them, saying ‘fair’ or ‘good’ credit is needed for this card. Anyone can join Aspire, but if you’re looking for a longer deal you also might want to check if you’re pre-qualified for deals from other banks, without a hit to your credit score, using the list of options here.


If you see missed payments that shouldn’t have been there, write it down. Your credit score is negatively impacted when you are 30 days or more past due. If you see a balance on a card that you haven’t used in years, it could be because the account has been stolen. Misinformation in the accounts section harms your credit score, so make a note of all incorrect information.
as I have 3 small debits for under $150 each for medical & 2 that are for the court (MUNICIPAL) that are about $1000 in total. so with everything I have a debit of about $1500 total that is killing my credit. was wanting to get a $1000  fixed interest rate Secured credit card at about 5.99%-8.99%. & start paying off Debit, killing 2 birds with one stone. instead of just paying the debit with cash, use a low interest Secured credit card. paying about $200 month then leaving a low balance of $25 on card to continue to get credit once debits are paid in full.
It’s always possible there are some errors on your credit report causing your credit score to be much lower than it should be. At the beginning of any endeavor to improve your credit, get acquainted with your free 3-bureau credit report (from annualcreditreport.com) so you know what belongs on them. Check carefully for any errors to your name, identifying information, account names, account numbers, credit limits, balances, and payment dates, and if you find any errors dispute them and have your report corrected. If there were errors regarding payments or credit limits and they are resolved, your credit score may improve dramatically and quickly, depending on the error.
Getting negative and inaccurate information off of your credit reports is one of the fastest ways to see an improvement in your scores. Since credit bureaus have to respond and resolve a dispute within 30 days (there are a few exceptions that may extend this to 45 days), it’s a short timeline. Especially when consumers want to buy a house, get a new car, or open up a new credit card soon and don’t have the time to wait to build good credit in other ways.

Be punished for missed payments: Not all late payments are created equally. If you are fewer than 30 days late, your missed payment will likely not be reported to the bureau (although you still will be subject to late fees and potential risk-based re-pricing, which can be very expensive). Once you are 30 days late, you will be reported to the credit bureau. The longer you go without paying, the bigger the impact on your score, ie: 60 days late is worse than 30 days late. A single missed payment (of 30 days or more) can still have a big impact on your score. It can take anywhere from 60 to 110 points off your score.
You’ll need to go to an Edward Jones branch to open up an account first if you want this deal. Edward Jones is an investment advisory company, so they’ll want to have a conversation about your retirement needs. But you don’t need to have money in stocks to be a customer of Edward Jones and try to get this card. Just beware that you only have 60 days to complete your transfer to lock in the intro 0% for 12 billing cycles, and after the intro period a 14.99% Variable APR applies. This deal expires 10/31/2018.
If you are working with a credit counselor and think you’ll miss a payment, they can take proactive steps to mitigate consequences and create a plan to get you back on track. They can even negotiate to have additional late payments or late fees reduced or waived if you miss a payment. The key to making this work is being completely open and honest about your situation and speaking with your credit counselor as soon as you realize your payment will be late.

Your credit score partly depends on your credit utilization – the amount of debt you carry as compared to the total amount of debt available to you. If all of your credit cards are maxed out, opening a new one increases your available debt and causes your utilization ratio to go down, and that could help your score. But your score will take a ding any time you carry a high balance on any one card. So if you transfer multiple balances to a single card and get close to (or reach) your credit limit, your score will suffer even if your other cards are paid off.
The earlier you find out about a credit report or identity theft issue, the easier it is to solve. To ensure that you find out about issues in the future, consider signing up for a credit monitoring service. Some companies, like CreditKarma, offer free credit monitoring. Other companies offer daily three-bureau monitoring and resolution services. You can learn more about these options here.
The Journey® Student Rewards from Capital One® has a straightforward cashback program, ideal if you don’t want to deal with rotating categories or activation. Earn 1% cash back on all purchases; 0.25% cash back bonus on the cash back you earn each month you pay on time. The bonus you receive is a great incentive to pay on time each month, which you should be doing regardless of rewards. If you receive a low credit limit, the Credit Steps program allows you to get access to a higher credit line after making your first five monthly payments on time.
SoFi has taken a radical new approach when it comes to the online finance industry, not only with student loans but in the personal loan, wealth management and mortgage markets as well. With their career development programs and networking events, SoFi shows that they have a lot to offer, not only in the lending space but in other aspects of their customers lives as well.
For example, let’s say you want to use a credit card balance transfer to consolidate. Almost any balance transfer credit card you choose will have a fee that’s applied for each balance transferred. Some have a $3 fee per transfer, while others are 3% of the balance you move. That’s a big difference. If you transfer $25,000, then the 3% card will increase the cost of debt elimination by $750.
“Credit repair leverages your legal right to three standards: Credit reports must be 100% accurate, entirely fair, and fully substantiated,” Padawer said. “Too many lesser credit repair companies skip over those last two standards — which involve communicating with your creditors — in favor of depending upon simple credit bureau disputes by themselves.”
You're also entitled to a free credit report if you've been turned down for credit because of something on your credit report, if you're currently receiving government assistance, if you're unemployed and planning to look for a job soon, or if you think you've been a victim of credit card fraud or identity theft. Some states even have laws that let you get an additional free credit report each year. All these free credit reports should be ordered directly through the credit bureaus.
But tread carefully. This a field ripe with scam artists who rebuild nothing but their own bank accounts. If you are approached with an offer of help to negotiate your debt, make sure that you receive a copy of the "Consumer Credit File Rights Under State and Federal Law" and a detailed contract for services including contact information, stated guarantees and an outline of fees and services before you provide any personal information or turn over any financially-related documents. Ask for references, do online research and keep copies of all paperwork and correspondence in case a dispute arises.
You’re entitled to a free credit report if a company takes “adverse action” against you, like denying your application for credit, insurance, or employment. You have to ask for your report within 60 days of receiving notice of the action. The notice includes the name, address, and phone number of the consumer reporting company. You’re also entitled to one free report a year if you’re unemployed and plan to look for a job within 60 days; if you’re on welfare; or if your report is inaccurate because of fraud, including identity theft.
According to Kim Cole, community engagement manager at credit counseling agency Navicore Solutions, bankruptcy can make sense when life circumstances cause people’s finances to spiral out of control. Very often, she said, her company works with consumers who have racked up insurmountable amounts of medical debt that they couldn’t pay off if they tried. Other times, bankruptcy is the result of job loss or another unintended loss of income.
Get the advice of a nonprofit credit counselor before consolidating your credit card debt. Credit counseling offers free debt help and the expert advice could save you time and money. You may find out that your debts are indeed overwhelming and bankruptcy is best your option, or that your debts are judgment proof and thus you have nothing to lose by defaulting.
If you've already used up your free credit reports for this year, you can order your credit reports directly from the credit bureaus for a fee. The bureaus all offer a three-in-one credit report that lists all three of your credit reports side-by-side. The three-in-one credit report costs more than a single credit report, but less than the combined price of purchasing your individual credit reports.
If you do not make your payment on time, most credit cards will immediately hit you with a steep late fee. Once you are 30 days late, you will likely be reported to the credit bureau. Late payments can have a big, negative impact on your score. Once you are 60 days late, you can end up losing your low balance transfer rate and be charged a high penalty interest rate, which is usually close to 30%. Just automate your payments so you never have to worry about these fees.
When your financial health is at stake, you need a lender you can trust. Unfortunately, some financial institutions make it difficult to find all the information you need to make an educated decision. This can cause you to inadvertently sign up for a misleading loan that doesn’t serve your best interests. If you can’t easily find the answers to any questions you may have about a debt consolidation loan, you may want to consider another lender.
Many credit card issuers will allow you to transfer money to your checking account. Or, they will offer you checks that you can write to yourself or a third party. Check online, because many credit card issuers will let you transfer money directly to your bank account from your credit card. Otherwise, call your issuer and ask what deals they have available for “convenience checks.”
Step 2: Tell the creditor or other information provider, in writing, that you dispute an item. Include copies (NOT originals) of documents that support your position. Many providers specify an address for disputes. If the provider reports the item to a consumer reporting company, it must include a notice of your dispute. And if the information is found to be inaccurate, the provider may not report it again.

Hello. I just wanted to pass along some praise. We recently acquired a loan from LightStream for the purpose of consolidating our high-interest credit card debt. We are absolutely thrilled with how quick and easy the entire process was. The communication was wonderful, as well. We got a fantastic rate and we couldn't be happier! Thank you so very much!
If you recognize the account but believe the information being reported is not correct, you should reach out directly to the financial institution that reported the information. For example, if you recognize the credit card, but do not recognize the late payment - speak with the credit card company. Often the bank or credit card company can fix the issue and update the credit bureaus directly.
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