How would you pay down this credit?

KORN · ‎01-15-2015

Well, I got a little out of hand during Christmas, my anniversary, and just to spend on me ::sigh:: and I ended up like this. I just don't know where to start to get them all down to 0% without paying to much interest. I started school again so I am getting a nice pay cut since I am going to be working less so I think I will have $400 from my check to pay for cards.

How would you go about paying for these bills?

Amazon - $900 (0% until June 2015)

Barclay - $853 (typical high interest)

BofA - $750 (0% until October 2015)

CapOne - $283 (typical high interest)

Chevron - $200 (typical high intersest)

PayPal - $140 (0% until May 2015)

Barclay$1450/Cap1 QuickSilver1 $1300/BofA $1,000/ChaseAmazon $1,000/Amazon $2500/Old Navy $800/REDcard $800/Walmart $600/PayPal $1900/Game Stop $350-5/8/14 638..8/12/14 696..10/2/14 712

chwebb1 · ‎01-15-2015

@KORN wrote:
Well, I got a little out of hand during Christmas, my anniversary, and just to spend on me ::sigh:: and I ended up like this. I just don't know where to start to get them all down to 0% without paying to much interest. I started school again so I am getting a nice pay cut since I am going to be working less so I think I will have $400 from my check to pay for cards.

How would you go about paying for these bills?

Amazon - $900 (0% until June 2015)
Barclay - $853 (typical high interest)
BofA - $750 (0% until October 2015)
CapOne - $283 (typical high interest)
Chevron - $200 (typical high intersest)
PayPal - $140 (0% until May 2015)

Pay the cards with the highest APR first (while paying at least the minimum on the others). How is your UTIL looking? Could you get a BT card like the Citi Diamond, Simplicity, Slate, or Barclaycard Ring to save on Interest?

photo bankamericard-better-balance-rewards-credit-card-small.png

$15000 ........... $12500 ............ $11750 ............ $10000 ........... $9400 ............ $5000 ............. $5000
In the Garden until at least November 2015

Luscher · ‎01-15-2015

You should post each CL associated with each card.

Callandra · ‎01-15-2015

@KORN wrote:
Well, I got a little out of hand during Christmas, my anniversary, and just to spend on me ::sigh:: and I ended up like this. I just don't know where to start to get them all down to 0% without paying to much interest. I started school again so I am getting a nice pay cut since I am going to be working less so I think I will have $400 from my check to pay for cards.

How would you go about paying for these bills?

Amazon - $900 (0% until June 2015)
Barclay - $853 (typical high interest)
BofA - $750 (0% until October 2015)
CapOne - $283 (typical high interest)
Chevron - $200 (typical high intersest)
PayPal - $140 (0% until May 2015)

I would first make minimum payments on all cards and then focus on Chevron, CapOne and then Barclays in that order. It might be easiest to pay off Chevron first (get rid of the little balance and have one paid off) and then move to CapOne and then Barclays. Always pay the minimums every month (how much are yours? $20-25 each?) and then go from lowest to highest so after you've paid off Barclays, then focus on PayPal (0% until May), then Amazon and BofA (BofA has 0% the longest).

Quicksilver $10,000 | Better Balance Rewards $2000 | Sallie Mae $3500 | Freedom $3500

Last HP: 9/27/2015

Anonymous · ‎01-15-2015

@chwebb1 wrote:
@KORN wrote:
Well, I got a little out of hand during Christmas, my anniversary, and just to spend on me ::sigh:: and I ended up like this. I just don't know where to start to get them all down to 0% without paying to much interest. I started school again so I am getting a nice pay cut since I am going to be working less so I think I will have $400 from my check to pay for cards.

How would you go about paying for these bills?

Amazon - $900 (0% until June 2015)
Barclay - $853 (typical high interest)
BofA - $750 (0% until October 2015)
CapOne - $283 (typical high interest)
Chevron - $200 (typical high intersest)
PayPal - $140 (0% until May 2015)
Pay the cards with the highest APR first (while paying at least the minimum on the others). How is your UTIL looking? Could you get a BT card like the Citi Diamond, Simplicity, Slate, or Barclaycard Ring to save on Interest?

Agreed, Highest interest first.

KORN · ‎01-15-2015

@chwebb1 wrote:

Pay the cards with the highest APR first (while paying at least the minimum on the others). How is your UTIL looking? Could you get a BT card like the Citi Diamond, Simplicity, Slate, or Barclaycard Ring to save on Interest?

Amazon - $900 (0% until June 2015) $1,900

Barclay - $853 (typical high interest) $1,500

BofA - $750 (0% until October 2015) $1,000

CapOne - $283 (typical high interest) $300

Chevron - $200 (typical high intersest) $500

PayPal - $140 (0% until May 2015) $500

The UTIL is not good and I am still rebuilding my credit so I can't get other cards at the moment.

Barclay$1450/Cap1 QuickSilver1 $1300/BofA $1,000/ChaseAmazon $1,000/Amazon $2500/Old Navy $800/REDcard $800/Walmart $600/PayPal $1900/Game Stop $350-5/8/14 638..8/12/14 696..10/2/14 712

KORN · ‎01-15-2015

@Callandra wrote:
@KORN wrote:
Well, I got a little out of hand during Christmas, my anniversary, and just to spend on me ::sigh:: and I ended up like this. I just don't know where to start to get them all down to 0% without paying to much interest. I started school again so I am getting a nice pay cut since I am going to be working less so I think I will have $400 from my check to pay for cards.

How would you go about paying for these bills?

Amazon - $900 (0% until June 2015)
Barclay - $853 (typical high interest)
BofA - $750 (0% until October 2015)
CapOne - $283 (typical high interest)
Chevron - $200 (typical high intersest)
PayPal - $140 (0% until May 2015)
I would first make minimum payments on all cards and then focus on Chevron, CapOne and then Barclays in that order. It might be easiest to pay off Chevron first (get rid of the little balance and have one paid off) and then move to CapOne and then Barclays. Always pay the minimums every month (how much are yours? $20-25 each?) and then go from lowest to highest so after you've paid off Barclays, then focus on PayPal (0% until May), then Amazon and BofA (BofA has 0% the longest).

Yes, minimum is either $20 or $25. So pay off Chevron completey and just do the minimum on all the other ones? I was putting higher payments but on all of them but I wouldn't really see any help. But I will do the paying off first and minium then move on to CapOne right?

Barclay$1450/Cap1 QuickSilver1 $1300/BofA $1,000/ChaseAmazon $1,000/Amazon $2500/Old Navy $800/REDcard $800/Walmart $600/PayPal $1900/Game Stop $350-5/8/14 638..8/12/14 696..10/2/14 712

Anonymous · ‎01-15-2015

@KORN wrote:
@chwebb1 wrote:

Pay the cards with the highest APR first (while paying at least the minimum on the others). How is your UTIL looking? Could you get a BT card like the Citi Diamond, Simplicity, Slate, or Barclaycard Ring to save on Interest?

Amazon - $900 (0% until June 2015) $1,900
Barclay - $853 (typical high interest) $1,500
BofA - $750 (0% until October 2015) $1,000
CapOne - $283 (typical high interest) $300
Chevron - $200 (typical high intersest) $500
PayPal - $140 (0% until May 2015) $500

The UTIL is not good and I am still rebuilding my credit so I can't get other cards at the moment.

Chevron first, Cap One and Barclay at the same time, then paypal and amazon.

BUN · ‎01-15-2015

Start with Chevron aggressively, while making the minimum on all the rest until that is gone and move to the next high interest card aggressively. Rinse and repeat. Stop using them until it's back under control and all is paid to 0%. Only buy what u can PIF, unless u have 0% APR.

Starting Score : 575 May, 2013
Current Scores: EQ 716 6 INQ TU 745 4 INQ EX 726 3 INQ Last INQ December 2015, In the GC until Jan 2017.

Anonymous · ‎01-15-2015

@BUN wrote:
Start with Chevron aggressively, while making the minimum on all the rest until that is gone and move to the next high interest card aggressively. Rinse and repeat. Stop using them until it's back under control and all is paid to 0%. Only buy what u can PIF, unless u have 0% APR.

Well..I wouldn't stop using them, but I'd budget for what will be bought on them and pay that addtl over what's being paid already.