You are correct about CSP. My apologies.
The minimums are
Amex BCE = $105
Bofa = $98
CSP =$161
Cap1 = $115
Cap1 = $30
Thank you all for the feedback
Any suggestions as to where to get a ploc?
I'm not sure there's an easy answer here, a PLOC may help, but the rate will likely be in the range of the CSP, the largest lump, so not much savings for that.
I'd suggest the payments on the right column, a little faster than minimums, but there's probably not much extra available monthly to get there. If there is more, then put more on the BofA payment, to bring that down faster, since BofA will continue to send you new BT offers, so you can move more over there later.
Call Discover to see if they have any BT offers for you, try the on-line CLI request tool to see if that can be bumped. You may be able to move some of the Cap1 24% off that.
Now that the Freedom card is 0% balance, use that for Pay In Full use only, no carried balances allowed, no new charges on the other cards allowed.
This also leaves most of your $4k cash in cash. That provides some flexibility, since you have the Freedom and Walmart cards at zero, those can be spending buffers as well, but you want to be able to selectively lean into these balances. None of them can be paid off completely, so it's going to be a lot of interest expense, unless you can make further spending cuts to make more available to pay them down faster. That is going to be something you have to look into your budget to see where it can really be cut.
Good luck!
@NRB525 wrote:I'm not sure there's an easy answer here, a PLOC may help, but the rate will likely be in the range of the CSP, the largest lump, so not much savings for that.
I'd suggest the payments on the right column, a little faster than minimums, but there's probably not much extra available monthly to get there. If there is more, then put more on the BofA payment, to bring that down faster, since BofA will continue to send you new BT offers, so you can move more over there later.
Call Discover to see if they have any BT offers for you, try the on-line CLI request tool to see if that can be bumped. You may be able to move some of the Cap1 24% off that.
Now that the Freedom card is 0% balance, use that for Pay In Full use only, no carried balances allowed, no new charges on the other cards allowed.
This also leaves most of your $4k cash in cash. That provides some flexibility, since you have the Freedom and Walmart cards at zero, those can be spending buffers as well, but you want to be able to selectively lean into these balances. None of them can be paid off completely, so it's going to be a lot of interest expense, unless you can make further spending cuts to make more available to pay them down faster. That is going to be something you have to look into your budget to see where it can really be cut.
Good luck!
Wow thank you for this!! I will definately use it. Discover has always been stingy for some reason, I tried a CLI and was denied. I applied for a citi Simplicity but I forgot that I have my CR on a security freeze. I'll let you know if they approve me or not
@Anonymous wrote:OP, I have been thinking about your post. Now is a good time to think about needs and wants. With a baby coming there will be a temptation to buy things for the new one that are wants not needs. This is an important step for future as well as current financial health. I did it the hard way with a Chapter 13 where I had no choice, but to plan for every penny spent. If you could do this as part of your financial planning it will serve you well. Just my take. Good luck to you...
Yes, I have that on lockdown. I'm hoping for a boy so that we can re-use his big brother's stuff that's been in storage.