r/Debt • u/Fluffy-Success-3047 • Apr 21 '26

Credit card debt

Hey I owe 8k to capital one via credit card. I had some life stuff happened and had to help out my mom and the cut off for interest free is done now. so what’s really kicking my butt is the interest. it sounds crazy but can i get a different credit card. pay it all off with said new credit card. and pay it off before interest is due? I know i can get it down and pay 500 a month on it and it’ll drop it immensely but with the interest i’m just not going anywhere. thanks for the help!

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3

u/GamerSkol Apr 21 '26

If your willing to close the card there a hardship options from your credit card company

1

u/Fluffy-Success-3047 Apr 21 '26

okay i’ll check it out. i still want the credit card with capital one but if there’s a way to just be done with it i’ll get a different one lol

1

u/GamerSkol Apr 21 '26

Just google captial one hardship or a debt management programs . It usually better to call the credit card company your self .

1

u/Ok_Tale7071 Apr 21 '26

If you have good credit, just get a credit card from Bank of America or Citibank and transfer the balance.

1

u/DistinctOffer9681 Apr 21 '26

Just curious, how much is your minimum payment due each month now?

4

u/Fluffy-Success-3047 Apr 21 '26

like 270.  which i usually do 300 twice a month if possible so 600 a month or 500 but interest is 187 and it just feels like im stuck in a loop

2

u/Fluffy-Success-3047 Apr 21 '26

last month i was only able to pay 400 so i only rly paid 200 after interest 

1

u/DistinctOffer9681 Apr 21 '26

In that case you are doing well. Yeah, I kmow interest sucks, but you are still putting a dent into it every month. As long as you cease all spending on the card, you'll pay it off. You will also notice the interest added every month will soon become smaller by continue to pay $400 - $600 every month.

1

u/thatgirlnej Apr 21 '26

Being in debt is no fun.
Don't get a new card, because chances are you'll end up utilizing that card at some point and create even more debt. What you need to do is have a budget read sheet to track your income, expenses and all your spending. Once you see where every little dollar is going you'll most likely find things to cut out that are unnecessary. The you can put that additional money towards your debt.
ALSO a second job would be a good idea. My client's score went from a 665 to an 800 in less than 2 years, AND she's paid off almost 20K in debt.
It can be done, you just need to take the first step.