I only payed half of my credit card payment? They raised my minuminum payment..how can i get it to go down.?

Question

I am a college student and working a part time job with 300 dollars a month and i missed a payment and my card went over the limit. They raised mt min payment to 67 dollars. What can i do to get it to go down. I will be messed up for 3 months with the credit card . What can i do Please help. How can i get my min payment down over time. Is theer a away i can deferr my payment for a month or couple of weeks.

Answer 1

First, check your payment closely - it could be that the minimum payment is the amount you didn't pay plus the amount you owe this month.  If that is the case, the payment will revert to normal after you pay the full minimum payment this month.

Alternately, because you are overdue on half the payment, there could be a late charge in the payment - if so, once you pay the $67, it will revert to normal.

If they have adjusted the payment cause you missed half the payment and the $67 is truly the new minimum, call them immediately.  Try to make arrangements to get your payment back to where it was plus a few dollars to catch you up.  Whatever you do, don't miss or try to defer any more payments.  You will certainly s***w up your credit, which at this stage is the last thing you want.

Answer 2

deferring payment will add charges.  cut up your card and stop forgetting to pay it.  Pay on time, every month.  

Answer 3

You need to pay the card down.  The company is forcing you to by raising the minimum payment.  Figure out how to do it and do it.

Answer 4

not sure you can..check whatever paperwork u have from the company...or call them...tell them of  your problem and maybe they will work with u

Answer 5

Pay it down or get another credit card and transfer the balance, then get rid of that one.

Answer 6

The only thing that I found that will lower your interest and payments is to join a credit counseling program. I did it four years ago with Lighthouse credit Foundation. They were able to get all of my interest lowered. Some went to 0% for the life of my balances. The majority will go down to between 5-15%. I had 15K in credit card debt and was out of debt in 3 years. It also raised my credit score to 690 from 560.  

Answer 7

Call your credit card company and ask them to reduce your minimum payment.

They would most likely work with you because they want your money.

Answer 8

That is how credit card companys make money.  If you call you can talk with someone in india, who does not care.  Happened to me once

Answer 9

The best thing to do would be to call the credit card company and let them know whats going on they are really willing to work with you but you have to tell them whats going on first. If you just keep making half the min payment it will just keep rising and charging you a late fee. I went through this before you will be surprise how much a phone call to them will make.

Answer 10

You need to pay over the $67 minimum. The more you pay over the minimum the lower it will become. Pay off as much as you can since the interest is a killer. If you think you don't have the money for it, you have to sacrifice. If you go to buy a soda at 7-11, is it really worth the $1.49? It may only be less than $2, but think how often you do this all month long.

Answer 11

The first thing I do is call the credit card company and ask nicely. I'm amazed at what that can get me.

I'd also suggest that you stop using your credit card at all, until you get it well below the credit limit. Even then, only charge what you can pay off immediately. You don't need all this debt weighing you down this early in life!

Answer 12

most of the times it will go down after  you pay either half of the total due or all of it. otherwise it will just keep going up if you go past the due date and not pay the full minimum payment

Answer 13

OH DEAR GOD CUT THAT THING UP RIGHT NOW!!!!!!!!!!!!!  I MEAN IT YOU WILL PAY FOR IT FOREVER DO IT AND EMAIL ME AND LET ME KNOW YOU DID OR I WONT SLEEP TONIGHT!

Answer 14

The first thing you will need to do is call your credit card company and explain your situation.  If they know you are willing to make good on your debts, they may be able to work with you.  Then, you will need to make your payments on time.  Credit takes very little effort to ruin, but a lot of effort and time to fix.  Pay this off before you make any more purchases with this card.  Having good credit is essential to being able to rent an apartment, buy a house, a car, etc.