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Mega Contributor
Creditaddict
Posts: 16,910
Registered: ‎10-23-2007

What to pay for score?

[ Edited ]

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 

Message Edited by Creditaddict on 02-15-2010 02:14 PM
Fico Scores: EQ 620, TU 675 & EX 703 (4-1-14)
Joint Cards: Navy NavCheck $15000, Discover iT $9000, Macy Amex $4000, Macy Store $3000, Macy Furniture $5800
AU: Virgin America $8500, CSP $27,000, Fidelity Amex $25,000, AA Biz $25,000, Barclay USAir Biz $6640
Mine: Navy NavCheck $3000, Kay Jewelry $2700, Pottery Barn $2800, FleetCard MC Biz $1800, HSN $1500, Vitacost MC $1500, Navy Cash $1500 and nRewards $1500, Bill Me Later $772, Cap1 Sony $750, Cap1 Spark $750, Best Buy MC $750, GE 76 Gas $650, Von Maur $600, Cap1 QuickSilver $500, Burbank CU $500, Kohls $300, Target1 $300, Target2 $300, Buckle $250, Express $250, Target3 $200
Valued Contributor
Jazzzy
Posts: 2,652
Registered: ‎07-29-2009

Re: What to pay for score?


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.

Valued Contributor
Uborrow-Upay
Posts: 2,710
Registered: ‎10-16-2008

Re: What to pay for score?

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.

 

 

 

 

 

 


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