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@goal_digger wrote:Count me in! I'll have to calculate my current util but I know it's in the 55-65% range. I lost my job and have had to pay bills with credit cards. But, I refuse to let a minor setback keep me from maintaining the credit profile I've worked so hard to build.
Thanks OP for this timely challenge!
We look forward to you joining the ranks. Unemployment is never an easy thing to deal with. We can accomplish anything when we set our minds to it.!..
@Pupeitmeister wrote:@pembrokepride Awesome!.. Glad you have made progress!.. Lets keep working on this as a team, and support each other to continue to make progress!
@ everyone else:
Sometimes it takes the "painful to look at it" approach for us to correct something that may turn into a mistake. I felt the same way looking at mine. We are here through the good times and the bad... so lets rock it !!
X2 Lets rock in 2014!!!
@wHiTeSoL wrote:Awesome idea! Keep me honest guys! All 0% BTW
Cards Balance Due Date Limit
AMEX BCE $3,177.69 15th $6000 Barclay Lufthansa $6,051.70 19th $9000 OCCU $4,749.50 21st $12000 Total $13,978.89
Goal August 2014 (Due date for first child!)
First little chip, i have an extra $2500 to throw at this today, where should it go?
@wHiTeSoL wrote:
@wHiTeSoL wrote:Awesome idea! Keep me honest guys! All 0% BTW
Cards Balance Due Date Limit
AMEX BCE $3,177.69 15th $6000 Barclay Lufthansa $6,051.70 19th $9000 OCCU $4,749.50 21st $12000 Total $13,978.89
Goal August 2014 (Due date for first child!)
First little chip, i have an extra $2500 to throw at this today, where should it go?
based on what you posted:
Barclay is at 67.24%
Amex is at 52.96%
OCCU is at 39.58 %
If you want maximum scoring I would split that 2500 between the barclay and the amex, but if you are just looking to zero them out, I would pick the highest interest charging card and pop all of it to that.
If any of them is on a 0% I would just pay the min on that card, and sock it to the other ones first, that youa re paying interest on each month. As soon as they are paid off i would "snowball" the payment into the next one that has an interest charge.
Ultimately the choice is yours to make, but anytime you can save money you will be able to lock it in longer. and if you are not planning on Apping for anything new for a bit, UTI doesn't really come into play as much as saving money on the interest.... Just my $.02
@Pupeitmeister wrote:
@wHiTeSoL wrote:
@wHiTeSoL wrote:Awesome idea! Keep me honest guys! All 0% BTW
Cards Balance Due Date Limit
AMEX BCE $3,177.69 15th $6000 Barclay Lufthansa $6,051.70 19th $9000 OCCU $4,749.50 21st $12000 Total $13,978.89
Goal August 2014 (Due date for first child!)
First little chip, i have an extra $2500 to throw at this today, where should it go?
based on what you posted:
Barclay is at 67.24%
Amex is at 52.96%
OCCU is at 39.58 %
If you want maximum scoring I would split that 2500 between the barclay and the amex, but if you are just looking to zero them out, I would pick the highest interest charging card and pop all of it to that.
If any of them is on a 0% I would just pay the min on that card, and sock it to the other ones first, that youa re paying interest on each month. As soon as they are paid off i would "snowball" the payment into the next one that has an interest charge.
Ultimately the choice is yours to make, but anytime you can save money you will be able to lock it in longer. and if you are not planning on Apping for anything new for a bit, UTI doesn't really come into play as much as saving money on the interest.... Just my $.02
@Everything is @0% with atleast 12 months left. I think priority is going to go to Barclay, overall UTI is still only 9% so I'm not worried.
You guys are doing great and coming up with plans! keep it up!
The point of this thread is to be supportive and come up with 'fun' ways to pay off debt -whether it's from 0% APRs or carrying balances on non-promo cc's.
Let's not be judgmental and ask why? Instead, if posters are willing to admit they may have over spent or just want to reassure they've budgeted accordingly- this is the place to admit they need help.
Thank you ~Lexie
Great thread. I don't have any debt currently, so I cannot participate in that aspect. However, I highly (highly!) recommend the debt reduction calculator at this link (Excel spreadsheet):
http://www.vertex42.com/Calculators/debt-reduction-calculator.html
Input your debts, APR, and minimum payment, and then play with the different options it gives you to pay them down (snowball, avalanche, highest or lowest balance first, etc.). You can see how much interest you will pay (or save) with different strategies, and a timeframe for when the debt will be paid off based on minimum payments, additional payments, and lump sums (the spreadsheet calls them snowflakes I think).
That site also has great budget spreadsheets, etc. too that might be of help to avoid CC debt going forward (I don't mean that as a slight - here to help!).
@_jb_ wrote:Great thread. I don't have any debt currently, so I cannot participate in that aspect. However, I highly (highly!) recommend the debt reduction calculator at this link (Excel spreadsheet):
http://www.vertex42.com/Calculators/debt-reduction-calculator.html
Input your debts, APR, and minimum payment, and then play with the different options it gives you to pay them down (snowball, avalanche, highest or lowest balance first, etc.). You can see how much interest you will pay (or save) with different strategies, and a timeframe for when the debt will be paid off based on minimum payments, additional payments, and lump sums (the spreadsheet calls them snowflakes I think).
That site also has great budget spreadsheets, etc. too that might be of help to avoid CC debt going forward (I don't mean that as a slight - here to help!).
Very nice. Thank you!