Kost Tire credit card account is costing me too much money

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freerid3r
 
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Kost Tire credit card account is costing me too much money

Postby freerid3r » Tue Jul 30, 2013 10:43 pm

Hey forum I used the Kost Tire and Auto credit card to pay for 1400 of tires on my BMW 328i. My credit is average/fair and because of that I wasnt sure if I could qualify for a better card and that's why I went for it even tho it had deferred interest after 6 months.

Because my money situation had a turn for the worse 2 months later I was no longer able to pay it off in the half year. The deferred interest got added and now I am still left with almost a 1000 debt.

How do you recommend i handle it.


MemberSince99
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Postby MemberSince99 » Wed Jul 31, 2013 6:34 am

Just pay it off ASAP, worst case.

Best case you have or get a card with 0% for X months and balance transfer that. It will cost you a fee, but still might be worth it.

Otherwise just pay it off. If you can't even do that, you need more help than I can offer. But 1000 doesn't sound too terrible unless there is more there. I have no way of knowing that though.

freerid3r
 
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Postby freerid3r » Wed Jul 31, 2013 1:32 pm

The thing is tho between my student loans, car payment, rent, phone bill, utilities all my money that's coming in each month now is used up. I seriously don't even go out to eat, bar, movies and that kind of stuff.

If I did get a new card with 0% for X months would I be able to consolidate more debt to it. Like in addition to Kost Tire credit card could I put my other card and GE Care Credit on it. Between those I have about 3500.

Midori
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Postby Midori » Wed Jul 31, 2013 3:00 pm

It sounds like dorky girl advice, but you might consider trading it in for a cheaper used car that doesn't require expensive tires? It kind of sounds like you bought more car than you can afford to maintain.

MemberSince99
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Postby MemberSince99 » Wed Jul 31, 2013 3:34 pm

You would but if you are in a position that you can't pay it all you will do is dig yourself a huge hole you can't get out of, which it kind of sounds like you are already in.

You aren't in over your head yet, but maybe Midori is on to something. If you are struggling to pay what you have now, the 0% can buy you time but you have to have a way to pay this off or it will eventually bite you. I would hate to see you do that. Maybe a second job for a time until you've paid off the balances?

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Z06Biker
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Postby Z06Biker » Wed Jul 31, 2013 3:53 pm

Have you looked at the Chase Slate card? It's the only card on the market right now that offers 0% APR on purchases and balance transfers for 18 months, AND zero balance transfer fee. As long as you can get a limit of $3500 or higher, you could conceivably consolidate all your outstanding debt onto that card and be diligent about paying it off over 18 months, before APR hits.

And, like Midori and Member99 said -- maybe consider scaling down the whip a bit. Maybe an E42 or E92 model instead, if it *must* be Bavarian? Hey, the Koreans are coming up too. The Kia Optima is double-taker handsome.
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Barclaycard Arrival World Mastercard
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