Valued Contributor
Posts: 3,099
Registered: ‎10-02-2012
Re: What Credit Cards should I pay off?

dl5770 wrote:

I want to thank everyone their input. It is very valuable. The "plan" is to stop using the cards altogether and continue to pay down. We went to a single income and had our second child over the last year which pushed these balances up. Our goal is to be CC debt free by February 2014.

With the help and advise of the group, I think we will be paying off highest APR's in January:
Cap 1


Chase (most)...then rest over coming months.


We'll continue to knock down the last two over the next 13 months.

That looks like a good plan. I would recommend you keep some money in savings. So, if your accounts are completely dry. You should put a little away.


Also, I would think about paying the high utilization cards down some. Your citi is maxed, but since it is your lowest interest card. It is a tough choice. Maybe after you pay down your other cards, you can get citi to give you an increase on your limit.


Good luck getting them all paid down.


After you start getting them paid down well and your credit score refects it. It might be worth getting a loan so that you have one payment for all the credit cards and then your score will shoot up after everything gets paid off.

Too many INQs & low AAoA so I'm off to tend the Garden.     Age:23    

     $17k       $8.5K          Closed          $19k      $6.5k        $24.2k        Closed         $5k       Closed     $8.5k        Closed      @2.49%