My brother's credit card score is a "C" no past due amounts, but he owns his own business and all the credit cards are very close to the max amount owing. Even though he pays every month on time, the interest rate went very high because of the debt to income ratio.
So would it be better to try and get all the credit cards balance owing less than 50% of the total credit available or
pay off the higher interest rate card first or
the debt-snowball method.
What would be the best for start getting approved for low interest credit cards? For years he had credit cards to run his business with low interest rates, but as soon as his balance owing got close to the maxium amount of credit available, his interest rate went sky high.
I have been told to pay off the higher interest rate card first, but then other people told me to tell my brother to get all the credit cards below 50% of the total amount of credit available to improve his credit card score.

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i am over the limit on one of my capital one cards. i am NOT past due and am still making payments. they have placed me in collections for being over the limit ( my credit limit is 500 my balance is 589.64) and are saying they are going to charge off my account as bad debt, is that legal?

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Have you ever had an unsecured credit card company place a lein on your home for an unpaid balance or is this just some tactic that the collection agency is using to scare the consumer? Or have you known someone who had this experience? The balance they are quoting is substantially more that it had been a year ago.

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If any? I have bad credit. Just wanted to know if its possible.

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due to mine and my husbands illnesses i am no longer able to pay my credit cards, what repercussions are involved for not paying credit card debt. all are non secured credit cards.

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I ignored a huge balance on a credit card and finally decided to face the music by checking out my credit report. It showed that the debt was "charged off as bad debt" and it's listed two other times by two seperate collection agencies on my credit report. I'm confused on how I should proceed to settle this. I do owe the money but I dont know who I should pay and how do I get it removed once it is paid. And what do I do about two collection agencies listing it?

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I have never had a credit card or debit or anything but i don't have bad credit i just have no credit so i just want to know if i could get approved for one

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I have a tremendous amount of bad debt. Almost 2000 dollars. If I were to pay it all off to 0 would it raise my score or just keep it from getting lower? I have no intention to EVER EVER EVER have another credit card. my credit score is in the low 500s what will happen if I pay off all debt and do nothing to raise my score?

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I don't understand some people on here. People whine about bill collectors and about their bad credit and how it is everyone fault but their own. They complain about being turnd down for a loan because of their bad credit etc.

Why not just make payments like you are supposed to so you do have problems.

I don't understand why these people that are in so much debt want loans and credit cards to go deeper in to debt?

Can anyone answer?????

I think even Studly would agree with me here.
To China Doll-

When I was younger I was there. But I took care of my responsibilities before I tried to get more credit and loans.

I paid my dues.
All I am saying herer is that people should pay off ther existing bad debt before trying to get more.

I am not judging anyone, just asking what is going through someone head when they say "I need another bill, another loan, another credit card and I can even pay the ones I have now"{ DUH!!

To improve your credit you must first take care of delinquent accounts. If there are still unpaid collections on your file, getting a new loan or another credit card will not help.

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