I have a $7,500 balance on my American Airlines Citi credit card, and I’m about to serve a one-year jail sentence soon. I have just enough money to pay it off, but that would leave me with nothing. I’m trying to figure out the best course of action here.
Paying it off is an option, but I’d rather not drain all my savings before I go away. I’ve been looking into other ways to manage the debt while I’m away—like maybe setting up automatic payments, deferments, or negotiating a temporary hold with the credit card company. I just don’t want to get hit with huge interest or penalties while I’m locked up.
Any advice on how I can handle this situation and still have some savings left when I get out? Thanks in advance.
Yo, right now, you gotta be thinking about what life’s gonna look like when you’re out. I totally get why you’d wanna hold onto your cash—you’re gonna need it for stuff like finding a place to live once you’re done with your time. Another thing to keep in mind is your credit. The smoother your credit is when you get out, the quicker you can bounce back. Keeping that card open with no late payments is key, especially since any bad marks on your credit can stick around for like seven years.
You might not have the financial history to get approved for one of those 0% intro APR cards, and that’s okay—it can be something you work toward once you’re back on your feet. In this situation, just making the minimum payments might be your best bet. Yeah, your $7,500 debt could turn into $9,000 or $10,000, but at least you’ll have cash to cover the basics when you’re trying to get back on track, like a place to stay or funding something that’ll help you make money to eventually knock out that debt.
Use all the time you’ve got to figure out how you’re gonna make money once you’re out.
Throw down two 5-team parlays with $100, and you’ll walk away with 10k to pay that off. Bet against the Marlins and White Sox, fade the Raiders, and ride with Memphis in college football — they’re covering spreads like crazy . Hope this helps!
Look for a credit union offering a low APR for 12 months…some have promos with 0-3%. Just set up auto-pay for the minimum payments, unless you think you won’t get approved for one of those cards. If that’s the case, try calling Citi to see if they can work something out, but keep in mind it could mess with your relationship with them.
— they’re covering spreads like crazy 
. Hope this helps!