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Established Contributor
amercnchopz34
Posts: 839
Registered: ‎10-28-2011
0

Need advice and help......

[ Edited ]

Hey Guys,

 

I need some help.....i have gotten a little over my head on some CC debt with holidays and frivilous spending

 

Here my current status ...about 17 % total utlizitatiion....

 

Cap one 3500 balance 0 % till February 2014......  5000 CL

Barclays 3000 bal 0% till May 2014 ...5000 CL

Citi TY Preff 800 0 % till June 2014......2000 CL

Alliant CU  1400  0% ending  May ..then to 14% ....5000CL

 

What is the best way to approach this.....I would like to move the 1400 Alliant to 0% barclay BT  but will be close to max out + with fees and  0% APR ending in May 2014 afraid I may not have it paid off in time then rate jumps to 22.78%...ouch!!!

 

I will have to carry a balance on some these cards past the 0% dates but no choice till I can get them down....

 

No more apping for me .....Just need to garden and get  these paid down...

 

Any advice would be great

 

 


Mega Contributor
LS2982
Posts: 15,434
Registered: ‎04-09-2011
0

Re: Need advice and help......


amercnchopz34 wrote:

Hey Guys,

 

I need some help.....i have gotten a little over my head on some CC debt with holidays and frivilous spending

 

Here my current status ...about 17 % total utlizitatiion....

 

Cap one 3500 balance 0 % till February 2014......  5000 CL

Barclays 3000 bal 0% till May 2014 ...5000 CL

Citi TY Preff 800 0 % till June 2014......2000 CL

Alliant CU  1400  0% ending  May ..then to 14% ....5000CL

 

What is the best way to approach this.....I would like to move the 1400 Alliant to 0% barclay BT  but will be close to max out + with fees and  0% APR ending in May 2014 afraid I may not have it paid off in time then rate jumps to 22.78%...ouch!!!

 

I will have to carry a balance on some these cards past the 0% dates but no choice till I can get them down....

 

No more apping for me .....Just need to garden and these paid down...

 

Any advice would be great

 

 


Your in the same boat I am except I have about 7K more on 0% deferred interest.

 

I would clear the CU balance 1st, then highest to lowest balances on the 0% taking the dates into consideration.




Silver Spade Garden Club Member - Last App 12/16/13 - Looking for a clean slate NO INQ's / Diamond Inspired!
Starting Score:
EX (PLUS) 583 EQ FICO 565 TU FICO 590 3/15/2011 / Goal Scores: 720
Current Score: EX FICO (PSECU) 671 (myFICO) N/A / EQ FICO 679 / TU08 FICO 678 / TU VS 706 3/6/2014
Established Contributor
amercnchopz34
Posts: 839
Registered: ‎10-28-2011
0

Re: Need advice and help......


LS2982 wrote:

amercnchopz34 wrote:

Hey Guys,

 

I need some help.....i have gotten a little over my head on some CC debt with holidays and frivilous spending

 

Here my current status ...about 17 % total utlizitatiion....

 

Cap one 3500 balance 0 % till February 2014......  5000 CL

Barclays 3000 bal 0% till May 2014 ...5000 CL

Citi TY Preff 800 0 % till June 2014......2000 CL

Alliant CU  1400  0% ending  May ..then to 14% ....5000CL

 

What is the best way to approach this.....I would like to move the 1400 Alliant to 0% barclay BT  but will be close to max out + with fees and  0% APR ending in May 2014 afraid I may not have it paid off in time then rate jumps to 22.78%...ouch!!!

 

I will have to carry a balance on some these cards past the 0% dates but no choice till I can get them down....

 

No more apping for me .....Just need to garden and these paid down...

 

Any advice would be great

 

 


Your in the same boat I am except I have about 7K more on 0% deferred interest.

 

I would clear the CU balance 1st, then highest to lowest balances on the 0% taking the dates into consideration.


thanks LS ...yeah I remember your posting........I was just not sure If I should BT to Barclay if that would be a good option.....I dont believe so ....I thought that paying down the CU would be the best choice becoause then th apr will be 14% ......
any other advice??


Valued Contributor
FocusedAndDetermined
Posts: 6,379
Registered: ‎01-05-2013
0

Re: Need advice and help......

I would pay the one with the 0% ending first.  I'm guessing the new APRs on the others are less than the Barclay, so i would take car of all or as much as you can of that one, while continuing to pay something (however small) on the others.  22.78% will take too much of a bite out of what you could be paying toward other obligations.


Valued Contributor
jamesdwi
Posts: 1,895
Registered: ‎09-16-2011
0

Re: Need advice and help......

do not pay BT fee's to move the debt from one 0% APR card to another, just work on paying them down. When the 0% APR is much closer to run out then BT to another card when your UTL's on the target card will be lower hopefully.

 

 


Cards: Chase Southwest 20k & CSP 10k & Freedom 6.6k & Amtrak 4.6k, FNBO DISC 14.9k Oregon Duck 5k, & AMEX BCP 15k & Hilton Surpass 7.5k & Zync NPSL, Sams Club MC 10k, Paypal Extras MC 6k, CapOne QS 2.5k, QS 750, Amazon 3.9k, Walmart 4.5k, Citi Simplicity 7k, HHonors Gold 1k (moved 5k CL to Simplicity), Discover IT 6.5k and a nice stack of store cards.
Last APP 4/26//2014 no plans for new credit I think I have enough.
Valued Contributor
Rhaeny
Posts: 1,507
Registered: ‎07-24-2011
0

Re: Need advice and help......

Always pay the bill that's going to cost you the most first.  That CU bill is going to sock it to you if you don't get that paid by May.  The rest you can knock off using the same logic and paying the most that you can.

 

 


Major CC's - Barclay's ($5.5K) | Barclay's Sallie Mae MC ($5K) | DCU ($7.5K) | Discover IT ($1.4K) | Genisys Visa ($1.4K) | NFCU Visa ($22K) | Navcheck ($15K) | Chase Freedom ($5K) | SDFCU Visa ($8K) | Amex BCP ($9.5K) | Amex Delta ($10K) |Store CC's| -Amazon ($4K) | Catherines ($850) | JCP ($4K) | Macy's ($1.7K) | Avenue ($850) | Victoria's Secret ($1.4K) | Walmart ($4.1K) | Paypal SC ($1.3K) | HSN ($2.5) | Sears ($2.6K) | Sams Club ($4.1K) |Goal|: Age with grace to 750 across the board |Last app|: 3/3/2014
Valued Contributor
SnackTrader
Posts: 1,566
Registered: ‎09-15-2012
0

Re: Need advice and help......

Alliant, CapOne, Barclays, Citi in that order until interest starts hitting.

Once interest starts hitting you need to get rid of the highest interest rate first.

More importantly, you should set up a strict budget if you haven't already. It is quite easy to get an additional few dollars out of everyday by backing off unnecessary spending. Try your best to live simple until things get under control.

Good luck!

In My Wallet: Amex BCP (12/12) $22.200, Cap1 Quicksilver (6/12) $14,000, Chase CSP (4/14) $12,000, Barclaycard Rewards (5/13) $10,500, Citi Forward (12/12) $9,600, Chase Freedom (12/12) $5,000

Last App: April 2, 2014

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