New Member
dl5770
Posts: 2
Registered: ‎12-06-2012
What Credit Cards should I pay off?

Hello all!

I am new to this board and it appears to be a great resource to get some solid advise.

 

I am coming into some money ($18,000) in January and would like to take the best approach in paying off some Credit Cards. Both for Credit Score and peace of mind!

 

Here's my situation (listed by highest ARP):

 

Cap 1 (17.9%) - $575 balance ($5,000)

AMEX (17.24%) - $7,722 balance ($8,000 limit)

Discover (12.99%) - $6,118 balance ($7,200 limit)

Chase (12.24%) - $4,913 balance ($5,500 limit)

BOA (9.24%) - $9,927 balance ($11,100 limit)

Citi (6.24%) - $9,355 balance ($9,500)

 

 My thoughts are: Cap 1, AMEX and BOA....OR.....Cap 1, AMEX, Discover and Chase (most of)

 

Any input would be great!!