How to Pay Down Cards? BT?

[Anonymous]

I just recently got in with Barclays with a World Arrival MasterCard.  Unfortunately, the limit is only 1500.

I have some balances on 2 Captial One cards that I want to pay off ASAP as they have a high APR (around 20%).   One card has about 2200 on it and the other 1300.  The new Barclay Card has a 0% intro rate on balance transfers.  Of course, the amount I need to pay off is more than the limit on the new card, so I need to figure out the smartest way to do this.  (Tried to recon the initial credit line, but no dice).

Should I transfer over the balance from one of the Cap One cards only to zero it out?  Or should I take a certain amount from both cards and transfer it over? 

I am trying to be strategic here, to save money on interest charges.  I also want to treat the Barclaycard right so the credit line will grow significantly over time.   I definitely don't want to max it out right away with a BT. 

I personally would think it makes the most sense to zero out one card first.  I was hoping to eventually combine the 2 Capital One cards so one needs to have a zero balance for that to happen anyway.  But I wanted to get advice first from you guys on the boards.  These boards have been intrumental to me in rebuilding my credit.

OK experts, please weigh in.  Thanks in advance for your help!

[Anonymous]

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@Anonymous wrote:

I just recently got in with Barclays with a World Arrival MasterCard.  Unfortunately, the limit is only 1500.

I have some balances on 2 Captial One cards that I want to pay off ASAP as they have a high APR (around 20%).   One card has about 2200 on it and the other 1300.  The new Barclay Card has a 0% intro rate on balance transfers.  Of course, the amount I need to pay off is more than the limit on the new card, so I need to figure out the smartest way to do this.  (Tried to recon the initial credit line, but no dice).

Should I transfer over the balance from one of the Cap One cards only to zero it out?  Or should I take a certain amount from both cards and transfer it over? 

I am trying to be strategic here, to save money on interest charges.  I also want to treat the Barclaycard right so the credit line will grow significantly over time.   I definitely don't want to max it out right away with a BT. 

I personally would think it makes the most sense to zero out one card first.  I was hoping to eventually combine the 2 Capital One cards so one needs to have a zero balance for that to happen anyway.  But I wanted to get advice first from you guys on the boards.  These boards have been intrumental to me in rebuilding my credit.

OK experts, please weigh in.  Thanks in advance for your help!

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Transfer from whichever has the highest rate. The amounts are relatively low, so a few percentage points are really not going to amount to much.

Take a look here for some more ideas on getting it down faster.

[Anonymous]

Both cards have the same APR.

Thank you SO much for posting the link to that thread!  I will have to sit and read it over carefully later tonight when I'm not on the move.