Question about a credit card?

Question

I have the mytribute card.  I have had the card for three years, and it was the biggest mistake I could have ever made to sign up for it.  Yes, I am aware last year their management decided to close every person's account, whether in good standing or not.  Doing that does take a major hit on credit.

So I don't know what to do right now.  Obviously, the best thing to do would be to pay off my remainder balance, but it is 1600 and I cannot afford to pay that all so quickly.  Even though they closed all the accounts, they still charge crazy interest rates and periodic finance charges.  I researched them and discovered they are being investigated by the FCC and BBB right now.

This is so stressful and frustrating, does anyone with similar experiences have some advice?

J C · Accepted Answer

Can you open a reputable credit card and do a balance transfer?  That would pay the old card off and get you onto a plan that you can manage.  Be careful with this though - it can be a slippery slope, and I wouldn't suggest it if it didn't sound like you were in a tight situation that required you to shift your debt.

B D · Answer

Try applying for a 0% apr introductory rate balance transfer credit card, which a lot of credit cards offer. They can be from 6 month and upto 12 months. If you can transfer your balance then you wont have to pay any interest. All you do is pay the 3% transfer fee which I think some charge maximum of $75....  You can apply for a balance transfer credit card at http://www.CreditCardPond.com  
There are many options available to chose from on the site. You can click on the balance transfer credit cards and then apply for the one that best fits your need.

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Question about a credit card?

2 Answers