Debt payoff - concerned

Can you tell us your current credit score and the amount of your outstanding credit card debt?
What I think is that, you should close down your credit card because it has outstanding debts which do not contribute to a good credit history. This is because if you do not close down the account and start repaying it off, you husband can reuse it and you may fall in debt trap. Once you close down the account, you can contact the creditor and pay off the debt.

Can you transfer the balance to a card with a lower APR? In this economy everything is negotiable but not without leverage. Scared money has no weight. Closing out a card can adversly effect your credit also. Weigh all your options.

i would not close it either. In all honesty i had 1 card that closed thier program that i owed 1,000 on and am paying for it with no available credit now so its lowering my credit score. It was great this week though they sent me a letter stating that if i paid 600 right now, they would wipe the rest of the debt away! I was so excited sort of a settlement without being late. it was great im just glad i had the money to do it.

But closing your accounts could hurt your credit is what im getting at here. Frogpatch is right you would be better off transfering these balances if possible.

I agree with your concern about the other cards. Alot of them go by this universal thing. if you become a risk by settling this account your other % may go up also then you have the same problem with all your other cards.

Is it a very high balance that you owe? maybe you could pay it off quick to avoid the % as much as possible? There are other solutions other than settlement for this situation.