Paying Off High Interest Credit Card
| Listing Information | |||
|---|---|---|---|
| Amount: | $3,000.00 | Status: | Expired |
| Grade: | C | DTI: | 50% |
| Lender Rate: | 20% | Borrower: | emjaybee |
| Finished | State: | VA | |
| Funded: | 7% | Group: | (No Group) |
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Why am I looking to borrow? As I acquire more real estate properties, I'm learning what type of accounts are good on a credit report and what type of accounts may hold me back. I currently have a higher interest rate credit card that's not doing anything for me, so I'd like to pay off the balance and close the account to help reduce my debt to income ratio. What will I do when I get funded? I plan on paying off this balance and closing the account. My current monthly payment is $136 which I can use to pay off my Prosper loan and pocket any saved money to put towards my next real estate investment property or other bills to further reduce my debt to income ratio. How will I pay back my loan? My loan is set for automatic and electronic payment to guarantee on time payments. Payments will be made with funds that used to go to this useless credit card. |
| Borrower's Other Listings | |||||
|---|---|---|---|---|---|
| 75589 | Don't Really Need The Money - Getting Prosper Experience | A | $2,000 @ 8% | Dec 17, 2006 | Loan created |
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