So I (F22) opened a Discover it account as my first credit card in June 2023 and initially meant for it to be a tool to grow my credit score (which basically didn’t exist at that point). I used it sparingly and paid off my balances in full and on time until September 2023 when my senior year started and I was unable to work. I take entire blame and understanding for my mistakes, but I racked up around $600 on my $2,000 credit line. I had some life struggles and mental health issues between then and now, ignoring emails from discover out of sheer panic and anxiety (which I understand doesn’t make sense), only for me to log in today and see that the $600 has turned into $1350 that I owe. It says that I have a minimum payment of $460 due tomorrow or my account will close. I can’t afford to pay that entire amount tomorrow. Here is my question - I signed up for the Fresh Start Program which entails 3 consecutive equetive monthly payments of $98. I called their customer support and the agent explained that after those 3 payments my account will gain “current” status again. However, I am uncertain of if this minimum payment would still be due tomorrow. Basically, I feel like I fucked my life up and I am about to graduate college in a hole of debt and never get my credit score to a healthy standing. Please offer some advice to me if you have any I am desperate. Also if you have been in a similar situation before how did you remedy it? Is $1,300 in debt outrageous for my age/life stage? Any responses would be appreciated
original posted by Tangiblematter to r/personalfinance on Tue, 05 Mar 2024 01:31:35 GMT.