Seeking advice on New Credit Card

[debtdewd]

Hi all,

I am in a bit of a bind. I am near my credit limits on my current cards, which amounts to $17,000. My income is about $60K (recent raise).

I am traveling for work this month for nearly three weeks - and need to cover for hotels, rental cars and the holds I'll incur.

So, my question is, is there a certain card out there that I can apply for and get approved? My credit is average, and it's average because I have a lot of debt between student loans and my credit cards.

My travel expenditures are obviously reimbursable, but I don't get reimbursed for one month - and I have nearly $3K that will be reimbursed to me on May 1. Just trying to cover for April.

Thank you!

[jpg7n16]

Well any solution we give you will only be a temporary fix. In order to truly help you, we'd need to work on your mindset about debt, and review your budget.

Would you be able to post your monthly budget for us to review? You make enough money that you should have cash available each month to get out of this debt and not worry about $3k that will be reimbursed.


For your specific question, you should see about getting a personal loan from the bank. Even if there was a credit card out there, it may not arrive in time through the mail. I remember the last card I got took a couple weeks to arrive. You'd be better off applying for a personal loan of $3k, which could be accessible quickly before you leave.

Again - that's a temporary fix. You've gotta get out of this debt. Or can you think of a good reason why you should be paying interest on $17,000? I can't.

[debtdewd]

Well any solution we give you will only be a temporary fix. In order to truly help you, we'd need to work on your mindset about debt, and review your budget.

Would you be able to post your monthly budget for us to review? You make enough money that you should have cash available each month to get out of this debt and not worry about $3k that will be reimbursed.


For your specific question, you should see about getting a personal loan from the bank. Even if there was a credit card out there, it may not arrive in time through the mail. I remember the last card I got took a couple weeks to arrive. You'd be better off applying for a personal loan of $3k, which could be accessible quickly before you leave.

Again - that's a temporary fix. You've gotta get out of this debt. Or can you think of a good reason why you should be paying interest on $17,000? I can't.

I agree with you 100%. I've made some really stupid decisions in the past - and I'm over that stage of my life.

I have an intense focus on digging out of the hole that I am in and making all the right decisions.

With that being said - to address my short-term issue. Would my bank issue me a short-term loan for $2K or $3K. Would the bank use my income to justify the loan?

Thanks again...

[jpg7n16]

I agree with you 100%. I've made some really stupid decisions in the past - and I'm over that stage of my life.

I have an intense focus on digging out of the hole that I am in and making all the right decisions.

That's fantastic. And that will address the real problem here. (If you didn't build up this debt, you would have no issues with the business expenses)

If you want some help with sharpening your shovel, feel free to post your budget - there are some smart minds here who can give you some pointers as you work your way out. And identify things you wouldn't notice yourself.

With that being said - to address my short-term issue. Would my bank issue me a short-term loan for $2K or $3K. Would the bank use my income to justify the loan?

Thanks again...

That would vary by bank, and is a good question to ask them. I know the old bank I used to work at had a minimum personal loan of $5k - but that's not every bank. Yours may be different, so it couldn't hurt to ask.

They would likely use a combination of your income and credit score to approve the loan and determine the interest rate.

But as far as loan approval goes, the best person to ask would be your banker. If they won't approve it, try another bank/credit union.