Re: What Credit Cards should I pay off?

dl5770 — Fri, 07 Dec 2012 23:38:59 GMT

I want to thank everyone their input. It is very valuable. The "plan" is to stop using the cards altogether and continue to pay down. We went to a single income and had our second child over the last year which pushed these balances up. Our goal is to be CC debt free by February 2014.

With the help and advise of the group, I think we will be paying off highest APR's in January:
Cap 1

AMEX
Discover

Chase (most)...then rest over coming months.

We'll continue to knock down the last two over the next 13 months.

What Credit Cards should I pay off?

dl5770 — Fri, 07 Dec 2012 00:07:27 GMT

Hello all!

I am new to this board and it appears to be a great resource to get some solid advise.

I am coming into some money ($18,000) in January and would like to take the best approach in paying off some Credit Cards. Both for Credit Score and peace of mind!

Here's my situation (listed by highest ARP):

Cap 1 (17.9%) - $575 balance ($5,000)

AMEX (17.24%) - $7,722 balance ($8,000 limit)

Discover (12.99%) - $6,118 balance ($7,200 limit)

Chase (12.24%) - $4,913 balance ($5,500 limit)

BOA (9.24%) - $9,927 balance ($11,100 limit)

Citi (6.24%) - $9,355 balance ($9,500)

My thoughts are: Cap 1, AMEX and BOA....OR.....Cap 1, AMEX, Discover and Chase (most of)

Any input would be great!!

dl5770 Tracker

Re: What Credit Cards should I pay off?

What Credit Cards should I pay off?