Best way to get rid of credit card balances

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busenitz

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What are some possible ways to get rid of CC high balances when your a student and has a credit score of around 650?

teroobaau

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Do not over spend and save money. That is the only solution.

dhampungdragon

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If the credit card has high interest, try getting a personal loan to pay off the balance. Personal loan interest rate will be around 9% compared to high credit card rates. then you can make monthly payment for the loan like a car payment. that helped me control my high interest on cc

maxpayne

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650 credit score ma personal loan kasaile didaina, unless he can find friends and hopefully pay them back, Which in most cases is rare. Also please dont take payday loans they have even higher rates than credit cards.

BadhiJanne

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Best way to get rid of balances would be to pay the card. That's probably the only way, unless you declare a personal bankruptcy.

Now what you can do, if you cannot pay the whole sum right away, is consolidate all the cards into a card that has lower interest. With your credit score, it'd be hard to find the ideal card - but shop around, you might find one. Idea is you don't want to pay high interest right now. Slowly work towards getting down to 0 balance. Don't fall into scams where they say they will wipe out all your credit. I don't know if it has ever worked, but you can try calling the company and negotiating a term of payment. Show them your hardship and say this is what you can pay.

basebook

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Well, with 650 score is very tough. Right now try not to spend on anything unnecessary and start paying towards those credit cards. Somehow if you can get your score to high 600's then you will get some credit offers with 0% APR on balance transfers.

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