Have a couple of credit cards getting the better of me

Hi All

I just joined the community today. I have a couple of credit cards that are getting the better of me. I am able to pay the min amount but due to fees and other things, I am over the limit on one of them. I really appreciated going through some of the forums, all of you seem so friendly and so willing to give advice!
I am waiting for someone to get back to me about my situation. If anyone has tips on how to be able to pay a little more than the min. on my cc, please feel free to respond. I look forward to participating in more discussions and in contributing what knowledge I have.
God bless
Ayla

Have you contacted the companies to ask about lowering your interest rate so that more of your payment goes to the principal?

No. Didn't think that was a possibility. One of the companies is being so difficult even with fees and stuff. What grounds would I make that request on?

Just be up front with them and tell them you're having trouble making the payments.

Or another resort would be to look into debt consolidation. A counselor from this site will be in touch with you and they will discuss this option with you.

That sounds like a good idea although MBNA, is not very friendly when it comes to making adjustments. I am frustrated b/c I've been with them since 2001 when I was in college and they kept increasing my credit limit all the way from 800 in college to 5000 now and of course, I was foolish in my spending

Hi Ayla,

Welcome to the forum! It is nice to have you here.

Jessi is exactly right - first step would be to call the credit card company and ask them if they have any kind of hardship program - or if they will lower your interest. Some will and some won't, but it is definitely worth a shot. If they choose not to work with you or give you a break, debt consolidation is the way to go!

We look forward to your active participation in this forum. If you have any more questions, ask away!

~Mary

Thanks Mary! I really appreciate the responses I am receiving!

You are very welcome. We have all been in your shoes, and many of us are still there. But if we work together, we will ALL get through it.

~Mary

Amen!

Hi ayles

There are some credit companies willing to work on your proposal if you ensure them regular payments. Offer them a realistic payment plan and stick to it. They will surely offer you some benefits in the course of time.

I remember being in a similar situation when I was getting past behind in my bills. I approached my creditors and offered a realistic plan. I didn't get the benefits from them at the beginning but seeing my payments regularly, they waived off most of the fees from the total payment.

MBNA is a tough company when it comes to making arrangements. But when they will receive regular payments, I am sure you will get some benefits from them too. Just stick to your plan

John has a good point - make a REALISTIC payment plan. Don't agree to something that you know that you won't be able to keep up on! Offer what you can, but nothing more.

~Mary

It took me forever to find this site online!! I'm at work and I have it saved under favorites but couldn't remember the link for the life of me. And I need to vent so bad!
I am soooo upset. I called MBNA and they were so mean to me. They said my account has been over the credit limit for the past 6 months when it hasn't been!!! I've been making payments regularly and I've been able to use my card so it hasn't been. Furthermore, she called me irresponsible and how given my usage, there is nothing she would want to do to help me. She was so rude and told me that at this point it is in my best interest to close the account. I've been with them for almost 6 years now, my payments have never been late, until this month, and I have always been under the credit limit until this month because of late fees and increased interest rate. Oh I feel just awful :'(

Ayles--Do you have your statements to show that you were never over your limit? Or can you look online to see?

You wouldn't be able to use your card if it was over the limit..That lady is nuts.

Don't get down, the solution is out there, you just have to figure out the best way to go.

Hi Jessi
Yes I do have my statements, and when I told her that, she goes "well I am not going to sit and argue with you over this". She was just so rude and I am trying not to let it get to me but it's my birthday tomorrow and I just feel crappy Thanks for your comforting words.

That was the best she could up come up with, Ayles? If so, insist on speaking with someone else who is more reasonable. Just keep making the payments you can afford and if they see you are being consistent with your payments, maybe they will give you more breathing room. If they insist on being rude and you being over the credit limit, then keep all the copies of your statement. They are just being hardballs and do not let them get to you. Remember, make consistent payments of what you can afford.

Since your birthday is tomorrow, here is a big hug! *HUGS* Turn off the phone ringer and enjoy your birthday in peace!

NO way!!! Call them back! Keep calling until you talk to somebody who will help you! They are not ALL like that, I am sure of that. Ask for a supervisor next, if they are going to be rude to you like that! Just remember, your credit rating is at stake, so you gotta jump in there and try again! And remember that we are here for ya

~Mary