Paying off high int credit card
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|Loan Status:||Current||Origination Date:||2010-04-07||EricsCC ROI:||8%|
|Apr 07, 2010||Current|
Purpose of loan:
This loan will be used to pay down a high interest rate credit card. I have closed the account but still carry the balance. Closing the account decreased my overall available credit, but I flat out rejected this banks attempt to increase my interest rate. Thus, I had little other choice. I have never missed a payment and have always paid above my minimum payment. My years of consistency as a payor were rewarded with higher interest rates.
My financial situation:
I have a stable job as a manager in a private ambulance company. Our industry while not immune to the condition of the economy, we are somewhat insulated from the effects of a recession more than many other industries. I have a perfect history of paying my bills on time and my credit score has been climbing slowly since a personal bankruptcy in 2000. I have a good DTI ratio and live within my means. I am married and own a home. In the past 12 months I have reduced my credit card debt 28% and using tools like debtgoal.com I am simply seeking lower interest rates to maximize savings.
|Borrower's Other Listings|
|450981||Paying off high int credit card||A||$4,500 @ 14%||Mar 19, 2010||Withdrawn|
|451284||Paying off high int credit card||A||$5,000 @ 12%||Mar 23, 2010||Withdrawn|