Jgk2383 wrote:
Thanks, it doesnt matter that BOA is a major card and HD is just a store one?
No, this is irrelevant for FICO scoring purposes.
I'd shoot for getting both under 80%, then both under 50%, then kill off the smaller balance, then get the other down. It can be tough when we live paycheck-to-paycheck, but you're obviously gonna get slaughtered on interest payments if you don't. Check your new statements when they come out. They now have to include an eye-popping chart showing how much money you pay over time, and how long it takes to get to $0 when you only pay minimums.
Once you get them paid off, get a small savings account going that you can use to pay off your cards when you have to run them up. Savings accounts might not be paying much interest these days, but not paying nearly 30% APR on a CC balance is like earning that much on savings.
Good luck!
eta: LynetteM out-typed me!
