Continuing My Debt Payoff Journey

[Anonymous]

So here is where I am at:

2924/3000 BOA (0% til Oct)

2017/2000 Citi (0% til Sept 2017)

800/1000 Slate (0% til Feb 2017)

5800/7000 Freedom (16.24%)

I am still successfully making $300 payments on my Freedom every single month, have not made a single charge on it since December. The other newer cards are very high Uti, yes but those I plan on paying the "you will pay off in 3 years..." amount that shows on my statement. This will make it so I will not get shut off, and still putting the majority of my $$ to Freedom, which I have had maxed since early 2012 (I want it to be DONE).

I plan to put $1000 soon to Freedom. It hurts to see everything maxed, but good that I am getting Freedom down. Is this not the best route to go?

[Calistal]

I can't say categorically one way or the other if you're doing the right thing, but I can say it's probably what I would do.  Maybe get that Citi down under the credit limit and maybe throw a tich extra to the BOA so that when the interest kicks in you'll not be in as bad a shape, but hitting the interest gathering card is where I would be focusing most of my attention.  Keep up the good work - you'll get there!

[gibeon]

Did you mis-type on the Citi card? 2017/2000? 

Over 100% utilization is scary. If it were me, I would focus on getting everything to as alow a utilization percentage as possible across the board, as they may balance-chase you on the way down.

With that same $1000 you want to put towards Freedom, you could get everything BOA and CITI under 80%.

2924/3000 BOA (0% til Oct) 97.5%

2017/2000 Citi (0% til Sept 2017) 100.9%

800/1000 Slate (0% til Feb 2017) 80%

5800/7000 Freedom (16.24%) 82.9%

Even though they are at 0%, if it were me, I would get the BOA and CITI down to 80% or lower, then go back to focusing on the Freedom.

[Anonymous]

Unfortunately no I did not mis-type. Hmm ok I can put that 1000  some other way. Honestly I have been at like 101% util for Freedom the past 3 years, just going down steadily feels AWESOME. kinda silly, but I look forward every 7th when my statement cuts on Freedom to see how low my min payment and interest charges are getting. Do you think they would balance chase if i continue 100/mo on B of A? I have only been as high as 2924/3000 on one statement cut.

So maybe all 1000 to citi?? and then 108 (the "in 3 years you will payoff.." amount that shows up on my statements) to BOA? This should be enough to not have them balance chase me i think..

[Anonymous]

I'd pay a little bit to the Citi, to make it under 100%, but not the full 1000.

Maybe $117 to the Citi to make it 95%, then $883 to the Freedom.

You have three full months to pay off your BoA before the 0% ends in October.

That should be your first mini goal so that you won't have to pay interest.

After BoA, focus on Freedom until the 0% ends for the other two cards.

[Anonymous]

Great job on trying to pay stuff off, doesn't it feel great! I am sort of on the same path, by end of this year most wil be paid off and then my citi will be the one i starting chuking payments too. In any case, I would be making the minimum on the 0% cards then out a good chunk into BOA and Freedom only becuase I would want less balance on the BOA once the 0% ends.  

For me I am doing things backwardsm my CIti is the one with the highest balance and also apr but I am trying ot get rid of al my other debt and all the card I have at 0% so that by the end of the 0% period I should only have the Citi and about 2k with another card and then I can seriously do damage to the Citi, I didnt want to put everythign in 0% then not be abl to fully pay citi down and at the end of my 0% terms have a bunch of cards accruing interest. 

But thats just how I did it, probably not hte smartest but it works for me and im comfortable with it.

[Anonymous]

Thank you miado and everybody else on this thread! I decided to put all 1400 (deciding to not have them take out 400 of my bonus towards 401k out) and put it towards citi. That way it's down from 101% to 30% in one go, then I can hone in on b of a. I know in Feb I get bonus that will wipe out that whole balance, so just making that "if you pay..." second higher payment that is on statement will at least get me to below 80 percent by time interest kicks in. And freedom though it's a lot of money right now I used to put chunks on it before and then was like "oh cool now I can use it and it's not hurting me too bad" so I will continue to pay my 305 per month on it. Thank you once again guys!!