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Frequent Contributor
shalane85
Posts: 286
Registered: ‎06-19-2008
0

Help!! I need to pay off my credit cards!

Okay, I need some advice on how do I best pay off three of my high limit credit cards! One is capitol one, $7500 limit, 0%, two navy Feds , $6k @ 10.99%, and $10k @ 7.9%. Minimum payments are $74, $188, and $115.
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Starting Score: 472
Current Score: 628
Goal Score: 680


Take the FICO Fitness Challenge





Starting Score: EQ FICO 470 TU FICO 482 7/15/2011
Current Score: EX ?? /EQ FICO 628 / TU ??
Goal Score: 680 across the board!

Navy Federal nRewards $500 cl
Capitol One Platinum (AU) $7500 cl
USAA Amex $250
Kay Jewelers $900
Valued Contributor
Crashem
Posts: 3,096
Registered: ‎01-26-2012
0

Re: Help!! I need to pay off my credit cards!

Sorry.  Are those your limits or the balances or both?   Your interest rates are fairly low.  You could only do better with 0% BT offers.  However if your scores are accurate, then doubtful you qualify for any of those cards.

 

If those are your balances, then there is no magic to this.  There is no magic way to avoid paying for your bills without consequences.  You have low interest rates so you just need to pay them off.

               LIMITS IN CARD DESCRIPTIONS
Frequent Contributor
shalane85
Posts: 286
Registered: ‎06-19-2008
0

Re: Help!! I need to pay off my credit cards!

Those are my limits and balances. I'm ashamed that I racked up so much debt.
-------------------------------------------------------------------------------------------------

Starting Score: 472
Current Score: 628
Goal Score: 680


Take the FICO Fitness Challenge





Starting Score: EQ FICO 470 TU FICO 482 7/15/2011
Current Score: EX ?? /EQ FICO 628 / TU ??
Goal Score: 680 across the board!

Navy Federal nRewards $500 cl
Capitol One Platinum (AU) $7500 cl
USAA Amex $250
Kay Jewelers $900
Frequent Contributor
shalane85
Posts: 286
Registered: ‎06-19-2008
0

Re: Help!! I need to pay off my credit cards!

Just so we are clear I'm Not trying to avoid paying. I just thought maybe someone had advice on how I can pay it off. Like should I use the snowball effect?
-------------------------------------------------------------------------------------------------

Starting Score: 472
Current Score: 628
Goal Score: 680


Take the FICO Fitness Challenge





Starting Score: EQ FICO 470 TU FICO 482 7/15/2011
Current Score: EX ?? /EQ FICO 628 / TU ??
Goal Score: 680 across the board!

Navy Federal nRewards $500 cl
Capitol One Platinum (AU) $7500 cl
USAA Amex $250
Kay Jewelers $900
New Contributor
Bluebonnet
Posts: 104
Registered: ‎07-16-2013
0

Re: Help!! I need to pay off my credit cards!


shalane85 wrote:
Those are my limits and balances. I'm ashamed that I racked up so much debt.

Don't be ashamed!  You are trying to fix it, so that's great.

 

No magic but have you heard of the snowball method?  It does take time, but it works.



Last app: 10/4/14
In the garden until Winter of 2016
New Contributor
Bluebonnet
Posts: 104
Registered: ‎07-16-2013
0

Re: Help!! I need to pay off my credit cards!


shalane85 wrote:
Just so we are clear I'm Not trying to avoid paying. I just thought maybe someone had advice on how I can pay it off. Like should I use the snowball effect?

I think the snowball effect/method is a great idea!  



Last app: 10/4/14
In the garden until Winter of 2016
Frequent Contributor
shalane85
Posts: 286
Registered: ‎06-19-2008
0

Re: Help!! I need to pay off my credit cards!

I have heard of it. I'm trying to give myself 3 years to do this. Is that realistic?
-------------------------------------------------------------------------------------------------

Starting Score: 472
Current Score: 628
Goal Score: 680


Take the FICO Fitness Challenge





Starting Score: EQ FICO 470 TU FICO 482 7/15/2011
Current Score: EX ?? /EQ FICO 628 / TU ??
Goal Score: 680 across the board!

Navy Federal nRewards $500 cl
Capitol One Platinum (AU) $7500 cl
USAA Amex $250
Kay Jewelers $900
Senior Contributor
john398
Posts: 3,526
Registered: ‎01-19-2009
0

Re: Help!! I need to pay off my credit cards!

Have you thought about a loan, I was able to get one from the Lending Club, theres a good thread on that on myfico

 

 

Frequent Contributor
shalane85
Posts: 286
Registered: ‎06-19-2008
0

Re: Help!! I need to pay off my credit cards!

I'm going to research it. Thank you for your reply.
-------------------------------------------------------------------------------------------------

Starting Score: 472
Current Score: 628
Goal Score: 680


Take the FICO Fitness Challenge





Starting Score: EQ FICO 470 TU FICO 482 7/15/2011
Current Score: EX ?? /EQ FICO 628 / TU ??
Goal Score: 680 across the board!

Navy Federal nRewards $500 cl
Capitol One Platinum (AU) $7500 cl
USAA Amex $250
Kay Jewelers $900
New Contributor
Bluebonnet
Posts: 104
Registered: ‎07-16-2013
0

Re: Help!! I need to pay off my credit cards!


shalane85 wrote:
I have heard of it. I'm trying to give myself 3 years to do this. Is that realistic?

Depends on how much you can and are willing to contribute.  It is definitely possible.



Last app: 10/4/14
In the garden until Winter of 2016

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