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Chase Card 6k balance 7k cl
Chase Card 8k balance 9k CL
New Citi Card $4900 CL
New Discover 4k CL
Should A:
pay 3500 on the 6k chase card
and 4500 on the 8k balance
OR B pay all of 1 chase card and the rest on chase b card.
I know putting the new cards to 95% isn't good but they are 0% for 12 months so saving some money while paying these balances is important. Should also mention both Chase cards have had limit lowered so very possibly as soon as payment is made on 1 or both accounts they lower the limit again and then it won't matter rather one is paid off or not... so which lottery should we play for! lol
@Creditaddict wrote:Chase Card 6k balance 7k cl
Chase Card 8k balance 9k CL
New Citi Card $4900 CL
New Discover 4k CL
Should A:
pay 3500 on the 6k chase card
and 4500 on the 8k balance
OR B pay all of 1 chase card and the rest on chase b card.
I know putting the new cards to 95% isn't good but they are 0% for 12 months so saving some money while paying these balances is important. Should also mention both Chase cards have had limit lowered so very possibly as soon as payment is made on 1 or both accounts they lower the limit again and then it won't matter rather one is paid off or not... so which lottery should we play for! lol
I love lotteries!
If they are both 0%, then interest rate doesn't play a part. Unless...will one of these start real interest sooner than the other? If so, that's the one I would put my money on.
Nothing you can do about potentially having the limits lowered. Either way you go, you may be out of luck.
LynetteM, I think Credictaddict meant that the new cards have the 0% rate; the cards with the balances, he doesn't say what the rates are. So, you get to go again...for free!
Creditaddict, my choice is B. Get one out of the way, pay the other down to $6k/9k. And I think you're right, I can also smell a balance chase coming, unfortunately. They're wacko over there.
I have no reason for choosing B other than that's what I'd do, personal preference only.