Credit Cards

Brock Landers · May 1, 2006

Anyone just NOT pay a credit card? What happens? Basically if you don't care about that card or its possible effect on your credit report, is there anything that can happen?

Fishhead · May 1, 2006

Do everything possible to pay at least your minimum balance by the due date.

You certainly do not want to ruin your credit.

dmmd98 · May 1, 2006

If the credit card is with the same bank that has your checking or savings account they can and most will take the money out of those accounts.

Brock Landers · May 1, 2006

Its a capital one card..

I offered to give them 50% of the balace today as a settlement and they said no, so my reply was well, 50% is better than nothing...

WVU · May 1, 2006

What's in YOUR wallet?

docmercer--banned · May 1, 2006

WVU: nice avatar ...

Capital One .. tell em to blow ya .. they let merchants slide on their 45 day policy on chargebacks

Nice setup they have .. you are their client and they let the merchants fuck folks
I have used them on both ends and have honored all agreements until I saw the bullshit
on how they truly operate

Move on .. Capital One is not worth the hassle

Jacksorbetter+ · May 1, 2006

Brock Landers said:
Its a capital one card..

I offered to give them 50% of the balace today as a settlement and they said no, so my reply was well, 50% is better than nothing...

In a few months they will sell the account to a collection agency that will will accept the 50 % settlement. The problem is that will be a huge hit to your credit by that point and they will have charged you late fees and over balance fees out the rear. Just call them and set up whatever arrangements you can.

wolfie_cr · May 1, 2006

I would suggest that you do some research , find a card with the lowest APR possible, apply for it , transfer the balance and cancel capital one

Then use some mental discipline and try to pay the capital one balance that was transferred before any introductory APR goes up

Hitman26 · May 1, 2006

Why would you want to become a known stiff?

maxdemo · May 1, 2006

I used to have a Capitol one card...stopped paying it and they are still trying to collect it and it went on my Credit Report...But I dont care since i defaulted on my student loans for over 18k....and my credit is shot... I have learned to live w/ bad credit...I just use my girlfreinds credit card if I need to purchase anything w/ a credit card and pay her cash.

This was over 5 years ago...after 7 years the debt is taken off your credit report

Dubpoet · May 1, 2006

maxdemo said:
I used to have a Capitol one card...stopped paying it and they are still trying to collect it and it went on my Credit Report...But I dont care since i defaulted on my student loans for over 18k....and my credit is shot... I have learned to live w/ bad credit...I just use my girlfreinds credit card if I need to purchase anything w/ a credit card and pay her cash.

This was over 5 years ago...after 7 years the debt is taken off your credit report

However they have the full 7 years to take you to court and put a judgement in your name and credit report that could last another 10 years.

Kruser6 · May 1, 2006

Hitman26 said:
Why would you want to become a known stiff?

Ditto?

Pay the minimum payments until you can pay to afford more. You are going down a road you do no want to travel. It will be WAY more of a hassel not paying it then just making the min payments.

Dante · May 1, 2006

you have got to be kidding right??? be a MAN and pay your bills ..you caused them

ElIguana · May 1, 2006

You used the card to make purchases, now pay up, it's the right thing to do, tantamount to stealing if you do not pay the $$ back.

Yes, credit card companies make a living off of overextending credit to people who then have to pay it back with exorbitant interest rates and fees, but I am assuming that no one held the proverbial gun to your head and made you spend $$ that you did not have on this credit card.

Pay up. Karma, Man. I assume you are feeling at least a little guilty or you wouldn't have started this thread. Do the right thing...at least you'll be able to look yourself in the eye.

maxdemo · May 1, 2006

Dubpoet said:
However they have the full 7 years to take you to court and put a judgement in your name and credit report that could last another 10 years.

It was only a 250.00 balance and it will disappear after 7 years as long as they dont take me to court...which they wont

Dante · May 1, 2006

Brock? why would bet/gamble if you have bills you do not want to pay??? makes sense to pay your bills off that you owe ...then anything left gamble with it ...no point taking a chance of going further in the HOLE

Brock Landers · May 1, 2006

Dante said:
Brock? why would bet/gamble if you have bills you do not want to pay??? makes sense to pay your bills off that you owe ...then anything left gamble with it ...no point taking a chance of going further in the HOLE

Well its this card in particular, they were total moron's about the amount i offered to pay them, so they really deserve to get zero.

Brock Landers · May 1, 2006

Hitman26 said:
Why would you want to become a known stiff?

Worth it to NOT Pay back the amount i owe LOL

2PLAYSMAX · May 1, 2006

I got behind on my bills and now by coincidence Capital One is the only card I got left in good standing.

Life's a bitch . My wife got Pregnant had to stop working and money wasnt available for credit card bills anymore. I had to pay rent, utility, and eat.

Man oh man I wish I could go back in time.

If its available pay em. My credit score went from like 740 to 500 in 6months.

jeckll · May 1, 2006

http://citi.bridgetrack.com/usc/div...9CAG8M5FS0W&B=M&app=UNSOL&langId=EN&siteId=CB

Citi Divident Platinum Select Mastercard

Transfer your CapitalOne balance to this card (assuming you can get it which is a big if considering your attitude toward credit) which charges 0% APR on Balance Transfers for a year. Pay off the balance within one year if at all possible so as to avoid accruing interest, then get rid of all other credit cards and just use one, pay it off every month. This one gives you 5% cash back on groceries, gas, etc. Great credit card.