Hello all,
I have been racking my brain trying to figure out the best way to maximize the $1,000 I will have at the end of themonth to pay on cc's. I have others that are store cards but the ones listed below are the ones I would like to focus on right now. The rest (not listed) will be paid off in dec with my bonus. Looking for adivce on what to pay on who.
PSA: Only looking for positive and friendly feedback. I know most of these cards are sub prime and are crappy will be getting rid of them as my profle allows.
Thanks!
cap 1 secured Limit 750 balance 739.57
cap 1 platinum Limit 1050 balance 1011.53
Verve Limit 500 balance 467.08
credit one Limit 450 balance 415.23
1st Premier Limit 400 balance 381.63
1st Premier Limit 300 balance 296.50
First Savings Limit 350 balance 322.35
My plan is pay off both 1st Premier's as they have the highest APR after that I dont know what route to take. As I said I will have an extra $900-$1000.
What do you think?
Starting scores after BK (Filed 4/18/24) EQ 571 , TU , EX
Starting Score: 582
pay off and close 1st Premier and CreditOne
@1GaDawg85 wrote:pay off and close 1st Premier and CreditOne
Thank you along with those I also want to close verve and first savings. However I wanted to wait to do that until I have replacements in the prime area.
@ronstar7 wrote:Hello all,
I have been racking my brain trying to figure out the best way to maximize the $1,000 I will have at the end of themonth to pay on cc's. I have others that are store cards but the ones listed below are the ones I would like to focus on right now. The rest (not listed) will be paid off in dec with my bonus. Looking for adivce on what to pay on who.
PSA: Only looking for positive and friendly feedback. I know most of these cards are sub prime and are crappy will be getting rid of them as my profle allows.
Thanks!
cap 1 secured Limit 750 balance 739.57
cap 1 platinum Limit 1050 balance 1011.53
Verve Limit 500 balance 467.08
credit one Limit 450 balance 415.23
1st Premier Limit 400 balance 381.63
1st Premier Limit 300 balance 296.50
First Savings Limit 350 balance 322.35
My plan is pay off both 1st Premier's as they have the highest APR after that I dont know what route to take. As I said I will have an extra $900-$1000.
What do you think?
Why were you racking your brain over this? What were the other plans that you were considering? If any of them are 0%, then only pay the minimum on those. I would just follow the typical debt pay down process and go after the ones with highest interest rates first to save money and pay the minimum on the rest. Then take whatever money you were paying towards the 1st Premier and apply it towards the next card with the highest APR and repeat.
12/19/19 
06/11/20 
07/02/20
@vpae wrote:
@ronstar7 wrote:Hello all,
I have been racking my brain trying to figure out the best way to maximize the $1,000 I will have at the end of themonth to pay on cc's. I have others that are store cards but the ones listed below are the ones I would like to focus on right now. The rest (not listed) will be paid off in dec with my bonus. Looking for adivce on what to pay on who.
PSA: Only looking for positive and friendly feedback. I know most of these cards are sub prime and are crappy will be getting rid of them as my profle allows.
Thanks!
cap 1 secured Limit 750 balance 739.57
cap 1 platinum Limit 1050 balance 1011.53
Verve Limit 500 balance 467.08
credit one Limit 450 balance 415.23
1st Premier Limit 400 balance 381.63
1st Premier Limit 300 balance 296.50
First Savings Limit 350 balance 322.35
My plan is pay off both 1st Premier's as they have the highest APR after that I dont know what route to take. As I said I will have an extra $900-$1000.
What do you think?
Why were you racking your brain over this? What were the other plans that you were considering? If any of them are 0%, then only pay the minimum on those. I would just follow the typical debt pay down process and go after the ones with highest interest rates first to save money and pay the minimum on the rest. Then take whatever money you were paying towards the 1st Premier and apply it towards the next card with the highest APR and repeat.
Because I over analyze everything a million times lol. I want to pay something on all of them but wont have enough to and I want to make sure that what I can afford to pay is the best thing I should do. None are 0% apr. Initially I was going to put $200 on 5 cards but that would still leave me with balance on all. Then I remembered that everyone always says pay the hightest apr off first they work your way down. So in my case its 1st Premier with 36%. I figured just pif those 2 then spread whats left on the remaing cards.
@ronstar7 wrote:
@vpae wrote:Why were you racking your brain over this? What were the other plans that you were considering? If any of them are 0%, then only pay the minimum on those. I would just follow the typical debt pay down process and go after the ones with highest interest rates first to save money and pay the minimum on the rest. Then take whatever money you were paying towards the 1st Premier and apply it towards the next card with the highest APR and repeat.
Because I over analyze everything a million times lol. I want to pay something on all of them but wont have enough to and I want to make sure that what I can afford to pay is the best thing I should do. None are 0% apr. Initially I was going to put $200 on 5 cards but that would still leave me with balance on all. Then I remembered that everyone always says pay the hightest apr off first they work your way down. So in my case its 1st Premier with 36%. I figured just pif those 2 then spread whats left on the remaing cards.
You and me both! But yeah, your plan is ideal. You'll have less cards with balances so less to worry, overall util will go down, and you'll save money from paying the highest APR cards down. Good luck with the rest of the cards and with future apps!
@vpae wrote:
@ronstar7 wrote:
@vpae wrote:Why were you racking your brain over this? What were the other plans that you were considering? If any of them are 0%, then only pay the minimum on those. I would just follow the typical debt pay down process and go after the ones with highest interest rates first to save money and pay the minimum on the rest. Then take whatever money you were paying towards the 1st Premier and apply it towards the next card with the highest APR and repeat.
Because I over analyze everything a million times lol. I want to pay something on all of them but wont have enough to and I want to make sure that what I can afford to pay is the best thing I should do. None are 0% apr. Initially I was going to put $200 on 5 cards but that would still leave me with balance on all. Then I remembered that everyone always says pay the hightest apr off first they work your way down. So in my case its 1st Premier with 36%. I figured just pif those 2 then spread whats left on the remaing cards.
You and me both! But yeah, your plan is ideal. You'll have less cards with balances so less to worry, overall util will go down, and you'll save money from paying the highest APR cards down. Good luck with the rest of the cards and with future apps!
Thank you! That is the route I will go.
Let's stay on topic, please.
