topic Re: Maxed Out in Credit Cards

Maxed Out

Trigga — Sun, 14 Jul 2013 20:15:56 GMT

Hi guess im just looking for some opinons on 2 nearly maxed out cards , i dont have the money to pay ethier one in full . Question is ...is it best to work hard at one of the cards at a time or pay equal amount to both , im thinking i can spend 100 a week give or take some on one card and 50 on the other so im paying more than minimum on both . Or should i pay the same amount on both . Thanks for the replies ahead of time !!

Re: Maxed Out

chnceit — Sun, 14 Jul 2013 20:19:22 GMT

When I was stuck in a bind I did the stacking technique which is pay the minimum on one card and put as much as possible on the other to pay down the card with the higher interest rate. So you pay off one card quicker.

Re: Maxed Out

daybreakgonesXe — Sun, 14 Jul 2013 20:19:38 GMT

Pay at least the minimum on both cards, preferably over the minimum on both. Throw more money at the one with the higher interest rate to help you save money in the long run!

Re: Maxed Out

myjourney — Sun, 14 Jul 2013 20:20:20 GMT

@Trigga wrote:
Hi guess im just looking for some opinons on 2 nearly maxed out cards , i dont have the money to pay ethier one in full . Question is ...is it best to work hard at one of the cards at a time or pay equal amount to both , im thinking i can spend 100 a week give or take some on one card and 50 on the other so im paying more than minimum on both . Or should i pay the same amount on both . Thanks for the replies ahead of time !!

What are the limits and balances on the cards?

Re: Maxed Out

Trigga — Sun, 14 Jul 2013 20:21:54 GMT

@chnceit wrote:
When I was stuck in a bind I did the stacking technique which is pay the minimum on one card and put as much as possible on the other to pay down the card with the higher interest rate. So you pay off one card quicker.

Ya i hear ya on the intrest rate thing , but i have zero pct financing i for got to mention that lol , im just trying to get my debt paid down the best way . And i have a year to pay off them both before the rate ends. I just having my utility so HIGH !!! And in 6 months im planning to apply for a BCE since i have the Green Card atm !

Re: Maxed Out

Trigga — Sun, 14 Jul 2013 20:22:57 GMT

@myjourney wrote:
@Trigga wrote:
Hi guess im just looking for some opinons on 2 nearly maxed out cards , i dont have the money to pay ethier one in full . Question is ...is it best to work hard at one of the cards at a time or pay equal amount to both , im thinking i can spend 100 a week give or take some on one card and 50 on the other so im paying more than minimum on both . Or should i pay the same amount on both . Thanks for the replies ahead of time !!
What are the limits and balances on the cards?

One is 1k Discover other is at 1.8k Citi ..

Re: Maxed Out

daybreakgonesXe — Sun, 14 Jul 2013 20:23:05 GMT

Then throw more at the account with the lowest balance. That will quickly demolish high utilization!

Re: Maxed Out

Trigga — Sun, 14 Jul 2013 20:24:43 GMT

@daybreakgonesXe wrote:
Then throw more at the account with the lowest balance. That will quickly demolish high utilization!

Lol , you know what thats the thing i ask questions before i think about it !!! That makes total sense ...maybe thats why i didnt think about it !!

Re: Maxed Out

Trigga — Sun, 14 Jul 2013 20:26:01 GMT

Now time to find the seedling ...and join the garden for a while !

Re: Maxed Out

myjourney — Sun, 14 Jul 2013 20:27:17 GMT

@Trigga wrote:
@myjourney wrote:
@Trigga wrote:
Hi guess im just looking for some opinons on 2 nearly maxed out cards , i dont have the money to pay ethier one in full . Question is ...is it best to work hard at one of the cards at a time or pay equal amount to both , im thinking i can spend 100 a week give or take some on one card and 50 on the other so im paying more than minimum on both . Or should i pay the same amount on both . Thanks for the replies ahead of time !!
What are the limits and balances on the cards?

One is 1k Discover other is at 1.8k Citi ..

Last question which one has the longer 0% term?

Whichever has less time tackle it first the other pay above the minimum

Re: Maxed Out

daybreakgonesXe — Sun, 14 Jul 2013 20:27:21 GMT

LOL! It happens. Since they're both 0% I still highly recommend your plan of going above the minimum on both...but throw the $100 on the smaller balance and $50 on the higher balance. This "satisfaction" of watching your balances on one card fall quickly will further motivate you to finish the job on the other!

Re: Maxed Out

Trigga — Sun, 14 Jul 2013 20:32:36 GMT

@myjourney wrote:
@Trigga wrote:
@myjourney wrote:
@Trigga wrote:
Hi guess im just looking for some opinons on 2 nearly maxed out cards , i dont have the money to pay ethier one in full . Question is ...is it best to work hard at one of the cards at a time or pay equal amount to both , im thinking i can spend 100 a week give or take some on one card and 50 on the other so im paying more than minimum on both . Or should i pay the same amount on both . Thanks for the replies ahead of time !!
What are the limits and balances on the cards?

One is 1k Discover other is at 1.8k Citi ..

Last question which one has the longer 0% term?
Whichever has less time tackle it first the other pay above the minimum

I opened both cards in the same month so they both run out with in a week of each other lol ...thx for all the help ! Now trying to get this darn seedling to actualy work !

Re: Maxed Out

JonStur — Sun, 14 Jul 2013 20:33:03 GMT

@daybreakgonesXe wrote:
Then throw more at the account with the lowest balance. That will quickly demolish high utilization!

+1... put as much money as possible towards the lower balance card while paying the minimum towards the other. When the lower balanced card is payed off, take the EXACT same amount you payed PLUS as much as you can and apply this to the remaining card.. This works best when you stop adding extra charges to your cards..good luck I know you can do it!!!!!!

Re: Maxed Out

myjourney — Sun, 14 Jul 2013 20:34:15 GMT

@Trigga wrote:
@myjourney wrote:
@Trigga wrote:
@myjourney wrote:
@Trigga wrote:
Hi guess im just looking for some opinons on 2 nearly maxed out cards , i dont have the money to pay ethier one in full . Question is ...is it best to work hard at one of the cards at a time or pay equal amount to both , im thinking i can spend 100 a week give or take some on one card and 50 on the other so im paying more than minimum on both . Or should i pay the same amount on both . Thanks for the replies ahead of time !!
What are the limits and balances on the cards?

One is 1k Discover other is at 1.8k Citi ..

Last question which one has the longer 0% term?
Whichever has less time tackle it first the other pay above the minimum
I opened both cards in the same month so they both run out with in a week of each other lol ...thx for all the help ! Now trying to get this darn seedling to actualy work !

Lol get that seedling and work the balances down

Re: Maxed Out

djc1puno — Sun, 14 Jul 2013 22:47:24 GMT

+1 to everyone...gl!