30 cards...30 balances...

[tcbofade]

yeah, yeah, I know...

Between my wife and I, we've got 30 active credit card / store card accounts.

As of the first of the year, all 30 of them had balances on them.

Today is the fifth of January, and I paid ONE off.

...it's a start...

[john398]

Thats awesome, do some have 0% financing?

[ArisGreek]

Egads thats a lot. Have you thought about balance transferring them to one or two cards to consolidate? But that's great that you paid one off!  

[JusdoNit]

WOW!

Wow, it must be nice.

[RockinRay]

Yep - it is a start for sure!

Try to keep with it and you will get them all paid down.

My wife and I have been in this position twice (not as many cards but BIG balances) and we will never let this happen again. Once you get momentum going, it is sometime hard to stay on course. But remember, it is better to be chasing the light at the end of the tunnel rahter than have it chase you.

I wish you good luck and God Speed on this adventure.

Ray

[tcbofade]

john- yes, several have zero percent financing...some special purchase, some newer accounts still under intro rate, some actually have an interest rate, but we use and pif so often that we never actually pay interest on them...

Aris, BT's are not an option for us right now...kind of an odd mix of factors, but we can't get any new "prime" cards for some time...too many inq's.

JusdoNit, yes, it is kind of nice. 

Ray, I'm hoping to pay off one a month all year...that'd knock out twelve of them anyway...

[KingAdrock]

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@tcbofade wrote:

yeah, yeah, I know...

Between my wife and I, we've got 30 active credit card / store card accounts.

As of the first of the year, all 30 of them had balances on them.

Today is the fifth of January, and I paid ONE off.

...it's a start...

---

You ought to make out a list of all these cards (not necessarily to show to us, but you if you want that's fine too) and note things like util % on each account and their APR. If you want to save money, put your payments toward the cards with the highest APRs. If you want to help your FICO the most, bring down the balances that have the highest Util%, and if any have low balances, zero them out if you can do so easily.

[tcbofade]

King, I do have such a list...(can't figure out how to import it...)

Frankly, my only goal for 2012 is to NOT apply for any new accounts.

With ZERO inq's and a lower util, I SHOULD be able to consolidate some at the first of next year. 

[quest208]

should i dare ask how high the balances are?

[LS2982]

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@tcbofade wrote:

yeah, yeah, I know...

Between my wife and I, we've got 30 active credit card / store card accounts.

As of the first of the year, all 30 of them had balances on them.

Today is the fifth of January, and I paid ONE off.

...it's a start...

---

Do you have a gameplan on getting these balances paid off?