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webhopper
Posts: 7,225
Registered: ‎09-16-2011
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Re: Help Me Form A Plan to Pay Down Cc


praise123 wrote:

My interest is high on the Chase but 0 percent for 18 months on Citi Card. 


I would focus all of your Extra money towards paying Chase.  I would BT the smaller balances to your Citi Card.


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codimom
Posts: 395
Registered: ‎09-08-2010
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Re: Help Me Form A Plan to Pay Down Cc

IF you don't have a lump of cash to pay off the smaller balances in total, I would also recommend the balance transfer.  The do not use ANY of your cards until it is paid in full. 

If you can't do the Balance transfer, make minimum payments on all but one card, and may hefty payments on that one card.   when its pif, move that payment onto the next (the good old snowball effect). If that is the case, I would work from lowest balance to highest. 

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Autumnslight
Posts: 311
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Re: Help Me Form A Plan to Pay Down Cc

I'd balance transfer the Best Buy and BoA to Citi, which keeps you just under 75% utilization on Citi, at 0% interest. Pay the minimum on Citi, and throw everything you can at Chase first, since it's higher interest. Under no circumstances would I let any single card get over 90%, as it will hurt your FICO and possibly make the creditor nervous. There also seems to be another impact to FICO scoring at 75% of an individual card, so I'd try to stay under that if possible as well.

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cmthomas06
Posts: 174
Registered: ‎06-21-2012
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Re: Help Me Form A Plan to Pay Down Cc


Autumnslight wrote:

I'd balance transfer the Best Buy and BoA to Citi, which keeps you just under 75% utilization on Citi, at 0% interest. Pay the minimum on Citi, and throw everything you can at Chase first, since it's higher interest. Under no circumstances would I let any single card get over 90%, as it will hurt your FICO and possibly make the creditor nervous. There also seems to be another impact to FICO scoring at 75% of an individual card, so I'd try to stay under that if possible as well.


+1

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praise123
Posts: 108
Registered: ‎06-24-2012
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Re: Help Me Form A Plan to Pay Down Cc

BB card is 0 percent also.  I just made a payment on BB and BofA so it should be able to pay both of them off in the next month.Novemver I have 3 pays so I should be able to knock this out by then. 


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