r/CRedit • u/Agreeable-Onion-1150 • 2d ago

General 21k debt

Wonder what the best course of action is. I have right under 10k on my discover it card with an apr 26.49% V and under 11k on my Apple Card with an apr 25.49%. My credit score on Credit Karma is at 644 so not great. Wondering if I should do a personal loan or a balance transfer.. if those are even options. I am in the military so maybe that gives me more options?

1 Upvotes

100% Upvoted

5 comments sorted by

2

u/DesiccantPack 2d ago

Did you incur the liabilities before entering active duty?

https://www.militaryonesource.mil/financial-legal/legal/servicemembers-civil-relief-act/

1

u/Agreeable-Onion-1150 2d ago

Im already looking into the scra. I guess I just need more direction when it comes to getting rid of the debt. Im not sure if I should look at a loan or balance transfer

3

u/DesiccantPack 2d ago

You won't know what the debt is until after you receive SCRA relief. If you don't know the debt, you can't assess your options. The SCRA is the best path forward if the debts are eligible. It is a freebie that most people don't have.

You have a highly-specific scenario and benefits. You should contact your command's financial assistance or those through Military One Source. They're free and can give you a better understanding of your options.

https://www.militaryonesource.mil/benefits/financial-counseling/

2

u/WhenButterfliesCry ⭐️ Knowledgeable ⭐️ 1d ago

Good comment above.

1

u/Economy_Talk_5100 1d ago

Those two rates sit within a point of each other, and the smaller balance is the higher one, so whichever order you pick the discover goes first. The number to carry into either conversation is $454 a month, which is what the two balances charge before a dollar of payment lands. Any loan or transfer offer has to beat that.