Paying off high int credit card
| Listing Information | |||
|---|---|---|---|
| Amount: | $5,000.00 | Status: | Loan created |
| Grade: | A | DTI: | 14% |
| Lender Rate: | 14% | Borrower: | detgiggy |
| Finished | State: | MI | |
| Funded: | 100% | Group: | (No Group) |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | Current | Origination Date: | 2010-04-07 | EricsCC ROI: | 8% |
| Status History | |
|---|---|
| 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| 450981 | Paying off high int credit card | A | $4,500 @ 14% | Mar 19, 2010 | Withdrawn |
| 451284 | Paying off high int credit card | A | $5,000 @ 12% | Mar 23, 2010 | Withdrawn |
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