Out of Discover card's pocket and into yours
| Listing Information | |||
|---|---|---|---|
| Amount: | $2,500.00 | Status: | Loan created |
| Grade: | AA | DTI: | 16% |
| Lender Rate: | 6% | Borrower: | shellstar |
| Finished | State: | VA | |
| Funded: | 100% | Group: | (No Group) |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | Current | Origination Date: | 2008-07-29 | EricsCC ROI: | 5% |
| Status History | |
|---|---|
| Jul 26, 2008 | Current |
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Purpose of loan: This loan will be used to pay off my Discover card which is the only card with an interest higher than 5%. I usually just transfer the debt around, but they are now charging 4% transfer fees and I did the math proving this would be cheaper. It is also easier because I can just let my bank pay it automatically and I don't have to check back all the time to make sure that they haven't changed the interest rate. I will set up automatic payments for this to pay it off in two years instead of three. If this works out, then I am going to help my mother take out a bigger loan for her home repair. My financial situation: I am a good candidate for this loan because I have never had a late payment. I am very cheap and a bit obsessed with paying off my debt. I make good money and spend almost nothing. I do not even have cable! The debt is from a long time ago in graduate school and I have been working my **off to pay it off. I own my own home and have a great deal at less than 6% interest my the condo. |
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