Has anyone ever turned their credit card balance into a loan?

HIMBOB said:
That's more like an overdraft.
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but an overdraft puts your account into the negative and come with fee's for each ovverdraft. With a credit line, its really almost just like having a credit card. If i decided i wanted to buy something and i needed a quick grand in cash, i could transfer a grand over into my checking account and there it is. I just have to keep making monthly payments on the loan just like you would a credit card debt.
 
llperez22 said:
but an overdraft puts your account into the negative and come with fee's for each ovverdraft. With a credit line, its really almost just like having a credit card. If i decided i wanted to buy something and i needed a quick grand in cash, i could transfer a grand over into my checking account and there it is. I just have to keep making monthly payments on the loan just like you would a credit card debt.
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You are correct but it's LIKE an overdraft account. I have a similar one not directly linked to my transaction account but can transfer in seconds.

In my experience overdrafts usually have a monthly fee not transaction based but I'm sure all kinds exist.
 
Yes. About a year ago my AC and hot water heater had to be replaced in the same month so I had to get a home equity loan to pay it for both. I also got a loan for a bit higher to pay off about $2k in credit card debt.
 
Being debt free is an amazing feeling after having that burden for years. I've never had to restructure debt but you should definitely talk to the bank. And then find some way to trim a bit more out of your budget. Even 50 bucks a month towards your debt adds up overt a year or two. Eat more rice ands potatoes.

I've got some pretty good tricks for saving money, PM me your SIN, and cc info and I'll see what I can do.
 
Medulla Omoplata said:
Being debt free is an amazing feeling after having that burden for years. I've never had to restructure debt but you should definitely talk to the bank. And then find some way to trim a bit more out of your budget. Even 50 bucks a month towards your debt adds up overt a year or two. Eat more rice ands potatoes.

I've got some pretty good tricks for saving money, PM me your SIN, and cc info and I'll see what I can do.
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Well I'll just post it right here - Mastercard 5121 6319 8212 8944 ssn 921 - exp 08/2020

Social insurance: 129 591 734
 
Clippy said:
Well I'll just post it right here - Mastercard 5121 6319 8212 8944 ssn 921 - exp 08/2020

Social insurance: 129 591 734
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Hey! That's my SIN and mastercard! How did you get those! ?
 
Clippy said:
They always know what I'm doing anyway, right?

I mean having them look at this won't make them go "OH FUCK WE GOTTA STOP YOU NOW!!!"

... right?
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There are people who have several credit cards and run them up to the maximum limit, They get a loan to pay them off then proceed to run the credit cards back up to the maximum so they have the loan and the credit cards. If you only have one and explain how you are getting behind the bank might understand.
 
ralphc1 said:
There are people who have several credit cards and run them up to the maximum limit, They get a loan to pay them off then proceed to run the credit cards back up to the maximum so they have the loan and the credit cards. If you only have one and explain how you are getting behind the bank might understand.
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I've only ever had one credit and one bank my whole life

I'm 33

I have 3 cats

I'm buying a sandwich tonight to but need it so I don't pass out while giving blood
 
look up Dave Ramsey .

my wife and I followed his advice and now our only debt is our house. we had 3 car payments and multiple credit card debt.
 
Cool Hand Luke said:
look up Dave Ramsey .

my wife and I followed his advice and now our only debt is our house. we had 3 car payments and multiple credit card debt.
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Is that the Extreme Home Makeover guy?
 
We close quite a few refinances that pay off credit cards. Do you own a house? Does it have any equity?
 
Oblivian said:
We close quite a few refinances that pay off credit cards. Do you own a house? Does it have any equity?
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Yeah but I don't want to get me house involved in this

The mortgage is with the wife's bank
 
Clippy said:
I've only ever had one credit and one bank my whole life

I'm 33

I have 3 cats

I'm buying a sandwich tonight to but need it so I don't pass out while giving blood
Click to expand...

Just eat a potatoe instead
 
Medulla Omoplata said:
Just eat a potatoe instead
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Last time I gave blood I didn't eat enough, I think I only had a cheese biscuit or something and a gumball and I damn near passed out when my blood got took and nurses had to beat me with wet paper towel to keep me conscious

Plus I'm excited and love mushrooms and want to try Subway's new sub

Ima make sure they don't skimp on those mushrooms
 
@Clippy

How much is your current balance?

How long do you think it would take you to pay off if you had zero interest?
 
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