@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?
Is $1,000 all you have to divi between these cards or can you scoop up some more for minimum payments on some cards? If it's the latter, I'd personally cancel out the 2-First Premiers and First Savings. Next pay the minimums on all other cards. I hate paying minimums but it will only be for one month. I recommend doing this so you can have cards reporting a zero balance. You need this because all your cards are maxed. Next month you won't have to pay those three and then can apply $1,000 to the last four. Next month you could put $500 on Cap 1 Plat.; leaving $511. $300 on Cap 1 secured; leaving $439. Then $100 on the other two cards.
If you can't scoop up even $100 more and only have 1,000, then put $100 on each card with the exception of 1 or 2. Put $200 on those. Either the ones with the highest balances or the ones with the highest APRs.
Another option is the cancel out one $200-300 card then put $100 on all the others.
