Credit Card

I'm a full time student. I have a job but it' hard to make that much money while being in school. My plan is to wait until summer and just work my ass off, but not only do I see that as a bit unrealistic, but I feel like it's too long from now to wait. I finish school in about two years and I don't want to have to wait until then to begin working and paying it off, but if that's the best thing, so be it. My life is beginning to move really fast so I need to be clear of this debt as soon as possible.

>>17734721
Just cancel it and you won't have to pay back your balance.

You still have to pay it off if you cancel it, in fact you have to pay the balance in a month if you cancel it. Continue with payments and literally freeze the card in a bucket full of water to stop you from using it until its payed off.

I just applied for a CC. It should be here any day from the mail. can I use it as soon as it gets here?

The interest rates on credit cards is usually quite high and will take years to pay off if you pay the minimum payments.
It would be better if possible to get a personal loan from a bank at a lower interest rate and use the loan to pay the card off.
If you are in the UK you should be able to find a credit card with 0% on balance transfers. Usually the 0% will last a couple of years, there is a transfer fee but this is usually around 0.5% of the total balance transferred.

>>17734721

You can't just "cancel" and wipe yourself of the debt, you fucking idiot.

I don't want to call you a fucking idiot, but come on, really? Are you that dense? You think credit card companies just hand out a couple thousand in free money and then go "oh shit he cancelled man we really got hosed?"

You have to pay that money back to them. That is money that you spent. There is no getting out of it. Pay your debt. Pay it off slowly, quickly, whatever. For the love of God, never get another credit card.

>>17734759
Bump

>>17734759
You can use it as soon as you get it. Sometimes it has to be activated by phone but that takes a couple of minutes.

>>17734802
Awesome, thank you for your reply.

>>17734771
>0% on balance transfers
What does this mean?

>>17734777
>You can't just "cancel" and wipe yourself of the debt, you fucking idiot.
I know. But if I cancel it then I'll only owe the amount on it when cancelled. No interest. And plus I won't ever be able to use the card again.

If you literally have no money,call them. Sometimes they can put your payments on hold for a few months like if you lose a job or have a medical bill or something.

>>17734831
If you cancel you have to pay the amount owed in full including accrued interest. If you cannot pay the amount owed you cannot cancel the card until the debt is cleared. The only other time it can be cleared without paying the amount owed I'd if you declare yourself bankrupt.

>>17734826
Transfer you CC debit to another card with 0% interest for a specific amount of time.

It's like borrowing money from your friend and giving him $10 bucks a month until it's paid back.

You could just not pay it.

For 5 grand, they're not going to take you to court, takes more money than that to go through the process.

It'll fuck your credit....but if you don't plan on using credit ever again, who gives a shit?

>>17734826
0% on balance transfers means that the balance you transfer does not accrue additional interest. You pay a small fee, usually around 0.5% which you can add to the balance. Anything you add to the balance on the card will attract interest.

>>17734844
>If you cancel you have to pay the amount owed in full including accrued interest
Oh what the fuck. That's ridiculous then.

>>17734864
I think I'll have to try this then. I'll try to get a loan.

Do you think it wise to ask my bank about this? As in ask for options or advice for paying back my owed amount with as little to no interest as possible? Or would they try to fuck me over?