Freaking out a little bit about a credit card

[Anonymous]

Anonymous wrote:I would call them and ask for another month. I would pay as much as you can now. I would then pay the balance next month in full to completely pay it off and consider it a lesson learned.

I mean would they really do this? I actually called them today and they told me it wouldn't matter if I paid the balance in full by the due date, they are charging the interest based on what the balance was on 3/1 which is when the intro rate expired ( and I confirmed it is an intro rate not a deffered rate like some suggested). So I'm pretty much screwed. That being said I didn't actually ask them for an extension or anything so maybe I could try that.

And to all that seem to think it is so weird that we don't have joint finances: we just always have and never thought to merge them all of the sudden when we were married. We each separately pay our student loans and we split some of the bills. For example he pays the electricity( a large bill) and I pay the water, gas and refuse which are all smaller bills and some quaterly. It's just always worked so we never changed it. I just wanted my own card. I honestly don't see what is so weird about that. Other than the fact that I screwed up when the intro rate was over this would have been a non issue.

[Anonymous]

It's the keeping of financial secrets that is the problem, OP. But you know that already, I see.

[Anonymous]

Does he ever check credit scores ? Because if he does whether you pay this off or not it shows up on the credit report.

The best thing to do is just tell him about the card. He will be mad because you are cheating financially but maybe it's best to get it all out in the open.

No more sneaky purchases, no more stress, get on the same page and merge your money. That way way you're both faithful.

[Anonymous]

Anonymous wrote:Does he ever check credit scores ? Because if he does whether you pay this off or not it shows up on the credit report.

The best thing to do is just tell him about the card. He will be mad because you are cheating financially but maybe it's best to get it all out in the open.

No more sneaky purchases, no more stress, get on the same page and merge your money. That way way you're both faithful.

??

NP. My husband doesn't check my credit score, and I don't check his. We knew what each other's was when we bought a house a few years ago (both 820-830), but do people really check a spouse's credit score unprovoked?

[Anonymous]

FYI, if you only work part time and don't have an extra $1000 laying around to throw at an emergency, then you can't afford a $200 bag.

[Anonymous]

Anonymous wrote:

Anonymous wrote:I would call them and ask for another month. I would pay as much as you can now. I would then pay the balance next month in full to completely pay it off and consider it a lesson learned.

I mean would they really do this? I actually called them today and they told me it wouldn't matter if I paid the balance in full by the due date, they are charging the interest based on what the balance was on 3/1 which is when the intro rate expired ( and I confirmed it is an intro rate not a deffered rate like some suggested). So I'm pretty much screwed. That being said I didn't actually ask them for an extension or anything so maybe I could try that.

And to all that seem to think it is so weird that we don't have joint finances: we just always have and never thought to merge them all of the sudden when we were married. We each separately pay our student loans and we split some of the bills. For example he pays the electricity( a large bill) and I pay the water, gas and refuse which are all smaller bills and some quaterly. It's just always worked so we never changed it. I just wanted my own card. I honestly don't see what is so weird about that. Other than the fact that I screwed up when the intro rate was over this would have been a non issue.

If it's not weird or suspicious, why aren't you just talking to your husband about writing a check or transferring money? Just a thought.

[Anonymous]

OP, you're literally stressing over <$20 if what you say is true. 25% (APR) of $1,000 (Current Balance) is $250. $250/12 = $20 (Monthly interest). And that's if you DO NOT pay $700 now. In that case, when your interest is recalculated the following month, it will be 25% of the new principal which is $300. That will put your May statement interest charge at ~$7! Sheesh! Can you stop whining already?

[Anonymous]

Duuuude, bigger question here is why do you keep financial secrets from your DH? Damn that's dysfunctional.

[Anonymous]

Anonymous wrote:Duuuude, bigger question here is why do you keep financial secrets from your DH? Damn that's dysfunctional.

Of all the things you read on dcum this is what strikes you as dysfunctional?

[Anonymous]

Anonymous wrote:

Anonymous wrote:Duuuude, bigger question here is why do you keep financial secrets from your DH? Damn that's dysfunctional.

Of all the things you read on dcum this is what strikes you as dysfunctional?

One of many dysfunctional things on DCUM but, yeah, I think it is. - NP

[Anonymous]

An introductory rate of 0% usually means there is no interest accrues (aka is charged) during the promotional period, which would not be bad in your case given the small balance. Deferred interest usually means that interest accrues during the promotional period and is charged if the balance is not paid off. My guess is that OP will only incur about a $20 per month interest charge, which is based on the $1,000 balance as of 3/1 and a 24% APY. That, of course, will reduce monthly as the balance is laid down.

[Anonymous]

Anonymous wrote:Get a new card TODAY (online) and do another balance transfer. It'll cost you 3% instead of 24%

Yup - do that (after telling husband). Make sure it's not issued by the same bank.
Or, one of your current cards might have a balance transfer offer - it's a pretty common thing now.

Pay off at least $600/month if you can.

[Anonymous]

Duuuude, bigger question here is why do you keep financial secrets from your DH? Damn that's dysfunctional.


Of all the things you read on dcum this is what strikes you as dysfunctional?


One of many dysfunctional things on DCUM but, yeah, I think it is. - NP

+1 It is. Even though you act like your finances are separate, they are not. You are married. Do you have children?

[Anonymous]

Anonymous wrote:

Anonymous wrote:Get a new card TODAY (online) and do another balance transfer. It'll cost you 3% instead of 24%

Yup - do that (after telling husband). Make sure it's not issued by the same bank.
Or, one of your current cards might have a balance transfer offer - it's a pretty common thing now.

Pay off at least $600/month if you can.

This will cost you more than simply paying off the card in $500 increments. Sheesh, you all are horrible at math!

[Anonymous]

Anonymous wrote:Get a new card TODAY (online) and do another balance transfer. It'll cost you 3% instead of 24%

General wondering (not OP), isn't that considered closing an account? If so, although the OP has a credit score of over 800 which is very good, that could damage her credit a little bit.