Debt Consolidation

What is the difference between a credit score and a credit report?

I did my research and I realized that i have a good credit report standing.

I only have 2 accounts that I am currently using.
Out of those two, for one I do have a balance but I always pay my bills on time except for two times when i was late because, the credit card company gave me the wrong due dates
They did remove the late fees however.
But 7 open in total.
5 unused
Two of them are sallie mae for school
and the other
1 for victorias secret- never used it. If I do use it I pay it once the bill comes
and the other two i dont plan on using.

Does that mean I have a bad credit score?

Tags: bad credit, credit card company, credit report, credit score, due dates, late fees, sallie mae

Why do so many people keep going into credit card debt?

Question? What makes people keep using them when they see the destruction it is causing?

Many people, mostly younger folks and women, have so many credit cards they end up in severe debt and ruin their credit for many years to come. Credit card applications are mailed out by the tons and people keep activating them knowing the interest rate is or will be up to 20% or higher. Everyone needs at least one credit card and no more than two. You also need one revolving (department store) credit card to establish a good credit history. The limit on the credit card(s) should be no more than 10% of your annual salary and the revolving card half that. Always make a minimum of a double payment on all your credit cards and pay on the due date. Never ever be even one day late. The interest rate and late fees will destroy you. If you are experiencing problems the first thing you need to do is carefully cut the cards up and throw them away. If you can not afford to pay the total monthly bill attempt to get a consolidation loan to get out of debt. The monthly payment will be less than the total monthly payment of all your cards with a much lower rate. Some banks and credit unions will be willing to help you out if they know why you are taking out the loan. Financial debt can create so much strain it can even destroy your peace of mind and your marriage. Don’t fall into that trap.

Tags: annual salary, banks, consolidation loan, credit card applications, credit cards, credit history, credit unions, department store credit, due date, financial debt, interest rate, late fees, marriage, peace of mind, revolving card, store credit card

Can I pay off credit cards and ask for some interest to be knocked off?

I am going to pay off 4 credit cards. I want to pay these off and close the accounts and will cut up the cards. When I call to do this, I want to ask if they can knock off some of the interest since I am paying them off. Also I have some late fees applied to them. Do you think they will do that? How should I ask? Thanks.

Tags: credit cards, late fees

Trying to get help with debt by a debt consolidation loan but I can’t get approved?

Trying to get help with debt by a debt consolidation loan but I can't approved. I'm behind on payments so I just keep sliding deeper into debt with late fees and I'm trying to pay it but can't get the help I need. help!

Tags: debt consolidation loan, late fees

Anyone take a personal loan to pay off credit cards?

I was wondering if anyone took a personal bank loan in order to pay off their credit card balances? Do banks actually offer a credit card consolidation loans yet and for that purpose only? From what I understand this would be better than a 401K loan. Forget the home equity loan. Also heard enough about those so called “credit card repair companies” that they are not worth it. About 16k owed and I am sick and tired of their finance charges , late fees, etc. Want rid them once and for all!

Tags: 401k loan, banks, credit card balances, credit card consolidation, credit card consolidation loans, credit card repair, finance charges, home equity loan, late fees, personal bank loan