topic Re: Need advice and help...... in Credit Cards

Need advice and help......

Anonymous — Sat, 30 Mar 2013 20:07:06 GMT

Hey Guys,

I need some help.....i have gotten a little over my head on some CC debt with holidays and frivilous spending

Here my current status ...about 17 % total utlizitatiion....

Cap one 3500 balance 0 % till February 2014...... 5000 CL

Barclays 3000 bal 0% till May 2014 ...5000 CL

Citi TY Preff 800 0 % till June 2014......2000 CL

Alliant CU 1400 0% ending May ..then to 14% ....5000CL

What is the best way to approach this.....I would like to move the 1400 Alliant to 0% barclay BT but will be close to max out + with fees and 0% APR ending in May 2014 afraid I may not have it paid off in time then rate jumps to 22.78%...ouch!!!

I will have to carry a balance on some these cards past the 0% dates but no choice till I can get them down....

No more apping for me .....Just need to garden and get these paid down...

Any advice would be great

Re: Need advice and help......

LS2982 — Sat, 30 Mar 2013 19:48:47 GMT

@Anonymous wrote:
Hey Guys,

I need some help.....i have gotten a little over my head on some CC debt with holidays and frivilous spending

Here my current status ...about 17 % total utlizitatiion....

Cap one 3500 balance 0 % till February 2014...... 5000 CL
Barclays 3000 bal 0% till May 2014 ...5000 CL
Citi TY Preff 800 0 % till June 2014......2000 CL
Alliant CU 1400 0% ending May ..then to 14% ....5000CL

What is the best way to approach this.....I would like to move the 1400 Alliant to 0% barclay BT but will be close to max out + with fees and 0% APR ending in May 2014 afraid I may not have it paid off in time then rate jumps to 22.78%...ouch!!!

I will have to carry a balance on some these cards past the 0% dates but no choice till I can get them down....

No more apping for me .....Just need to garden and these paid down...

Any advice would be great

Your in the same boat I am except I have about 7K more on 0% deferred interest.

I would clear the CU balance 1st, then highest to lowest balances on the 0% taking the dates into consideration.

Re: Need advice and help......

Anonymous — Sat, 30 Mar 2013 20:00:16 GMT

@LS2982 wrote:
@Anonymous wrote:
Hey Guys,

I need some help.....i have gotten a little over my head on some CC debt with holidays and frivilous spending

Here my current status ...about 17 % total utlizitatiion....

Cap one 3500 balance 0 % till February 2014...... 5000 CL
Barclays 3000 bal 0% till May 2014 ...5000 CL
Citi TY Preff 800 0 % till June 2014......2000 CL
Alliant CU 1400 0% ending May ..then to 14% ....5000CL

What is the best way to approach this.....I would like to move the 1400 Alliant to 0% barclay BT but will be close to max out + with fees and 0% APR ending in May 2014 afraid I may not have it paid off in time then rate jumps to 22.78%...ouch!!!

I will have to carry a balance on some these cards past the 0% dates but no choice till I can get them down....

No more apping for me .....Just need to garden and these paid down...

Any advice would be great

Your in the same boat I am except I have about 7K more on 0% deferred interest.

I would clear the CU balance 1st, then highest to lowest balances on the 0% taking the dates into consideration.

thanks LS ...yeah I remember your posting........I was just not sure If I should BT to Barclay if that would be a good option.....I dont believe so ....I thought that paying down the CU would be the best choice becoause then th apr will be 14% ......
any other advice??

Re: Need advice and help......

FocusedAndDetermined — Sat, 30 Mar 2013 20:24:29 GMT

I would pay the one with the 0% ending first. I'm guessing the new APRs on the others are less than the Barclay, so i would take car of all or as much as you can of that one, while continuing to pay something (however small) on the others. 22.78% will take too much of a bite out of what you could be paying toward other obligations.

Re: Need advice and help......

jamesdwi — Sat, 30 Mar 2013 20:30:05 GMT

do not pay BT fee's to move the debt from one 0% APR card to another, just work on paying them down. When the 0% APR is much closer to run out then BT to another card when your UTL's on the target card will be lower hopefully.

Re: Need advice and help......

Rhaeny — Sat, 30 Mar 2013 20:33:31 GMT

Always pay the bill that's going to cost you the most first. That CU bill is going to sock it to you if you don't get that paid by May. The rest you can knock off using the same logic and paying the most that you can.

Re: Need advice and help......

SnackTrader — Sat, 30 Mar 2013 21:43:16 GMT

Alliant, CapOne, Barclays, Citi in that order until interest starts hitting.

Once interest starts hitting you need to get rid of the highest interest rate first.

More importantly, you should set up a strict budget if you haven't already. It is quite easy to get an additional few dollars out of everyday by backing off unnecessary spending. Try your best to live simple until things get under control.

Good luck!