Author Topic: Helping Someone Who Has Credit Card Debt  (Read 6153 times)

Offline Barryg

  • Dansdeals Lifetime Platinum Elite
  • *******
  • Join Date: Nov 2012
  • Posts: 1441
  • Total likes: 6
  • DansDeals.com Hat Tips 0
    • View Profile
  • Location: Ohio
Re: Helping Someone Who Has Credit Card Debt
« Reply #30 on: June 06, 2013, 10:17:21 AM »
I'm skeptical if it would work as they see the utilization for each account too. Please report back.
IMO Amex (Experian) seems to care about % of utilization of each acc. Don't believe that Citi/Chase TU care about each specific account as much, but rather about the % of credit as a whole.
What I am uncertain about is if someone has all accounts with him as account holder maxed out and has AU accounts with very low or 0 utilization, if that would hurt chances. (Probably depends on overall score and whether card is automatically approved or not.)

Offline YaakovS

  • Dansdeals Bronze Elite
  • *
  • Join Date: Feb 2012
  • Posts: 36
  • Total likes: 0
  • DansDeals.com Hat Tips 0
    • View Profile
  • Location: NY
Re: Helping Someone Who Has Credit Card Debt
« Reply #31 on: June 06, 2013, 10:50:51 AM »
I wonder what they would say if the borrower paid of the interest directly to the bank, IE.-  He wrote a check to Chase to pay for my bill.

Still will not help. Although in theory it would work if a random third party paid off a person's ribbis (WITHOUT receiving any sort of compensation) if the third party in this case pays it off, since he is only paying off my interest because of my loan to him, which is ribbis as well. May still even be ribbis ketzutzah

Offline YaakovS

  • Dansdeals Bronze Elite
  • *
  • Join Date: Feb 2012
  • Posts: 36
  • Total likes: 0
  • DansDeals.com Hat Tips 0
    • View Profile
  • Location: NY
Re: Helping Someone Who Has Credit Card Debt
« Reply #32 on: June 06, 2013, 10:53:13 AM »
IMO Amex (Experian) seems to care about % of utilization of each acc. Don't believe that Citi/Chase TU care about each specific account as much, but rather about the % of credit as a whole.
What I am uncertain about is if someone has all accounts with him as account holder maxed out and has AU accounts with very low or 0 utilization, if that would hurt chances. (Probably depends on overall score and whether card is automatically approved or not.)

In from NY and I get pulled from Experian for Chase. If what you're saying is true, adding him as an AU won't help for those maxed out cards. Doesn't hurt to try though and hope for the best.

Offline YaakovS

  • Dansdeals Bronze Elite
  • *
  • Join Date: Feb 2012
  • Posts: 36
  • Total likes: 0
  • DansDeals.com Hat Tips 0
    • View Profile
  • Location: NY
Re: Helping Someone Who Has Credit Card Debt
« Reply #33 on: June 06, 2013, 10:54:30 AM »
+1 m'svarah and iirc it is also a Halacha mefureshes

Curious as to where it's mefureshes... I'm 99% sure it's still asur (as I explained)

Online churnbabychurn

  • Dansdeals Lifetime Presidential Platinum Elite
  • *********
  • Join Date: Jul 2012
  • Posts: 7143
  • Total likes: 268
  • DansDeals.com Hat Tips 0
    • View Profile
  • Location: Lakewood
Re: Helping Someone Who Has Credit Card Debt
« Reply #34 on: June 06, 2013, 10:57:29 AM »
Still will not help. Although in theory it would work if a random third party paid off a person's ribbis (WITHOUT receiving any sort of compensation) if the third party in this case pays it off, since he is only paying off my interest because of my loan to him, which is ribbis as well. May still even be ribbis ketzutzah
Unless he is just preventing a loss for you. (Im just raising the possibility, it depends how you look at things.)
Besides, you can always make a simple Heter isska.
When approaching a rabbi, ask him how you can make it work, not if this is ossur. There are so many ways around...
This is how business is done ;)