Which to pay off next?

[nursepower]

I have $250 left for paying off Credit cards. Who do I pay?

Capital One Playstation Visa - Balance $167 - CL $500 May need this card in Aruba due to no FTF fee, although I still have QS1 PIF with $500 limit as well. APR  currently 0% for some reason.  

Chase Freedom - Balance $225 - CL $800 APR 22.99

Barclay's Apple Visa - Balance $246 - CL $500  APR 22.9%

Or send a bit to all of them?

[Anonymous]

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@nursepower wrote:

I have $250 left for paying off Credit cards. Who do I pay?

Capital One Playstation Visa - Balance $167 - CL $500 May need this card in Aruba due to no FTF fee, although I still have QS1 PIF with $500 limit as well. APR  currently 0% for some reason.  

Chase Freedom - Balance $225 - CL $800 APR 22.99

Barclay's Apple Visa - Balance $246 - CL $500  APR 22.9%

Or send a bit to all of them?

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Personally, it looks like since they are all around the same interest and UTI, I would go with putting a little on all of them. Or, you could pay off the PS Visa, and then put the rest towards your Apple Visa. That's just my opinion though. 

[Anonymous]

Send a bit to all of them but a little bit more to Apple since the CL is $500...

[Anonymous]

If it were me, i'd clear off the Apple Rewards because that one has 22.9% APR and CL is $500.

Or you can split your $250 between the Chase Freedom and Apple Rewards.

[Anonymous]

im assuming that you've already covered the minimum payments for each card. If not, my response may change.

You have enough to pay off a card in full. That will reset your grace period with that card, so you no longer pay interest on it as long as you PIF every month. You should therefore payoff the highest dollar amount of cards that you can. For example, let's say you had three cards of $400, $500, and $800, respectively, and could put $1000 towards paying them off. You would be better paying off the $400 and $500 in full and putting $100 towards the $800 than paying off the $800 and putting the rest towards one of the other cards. This is true almost regardless of the interest rates.

You have enough for one card and only one card. I choose the freedom, because it has the highest APR and resetting that clock will save you the most money. If, after paying the minimum fees, you can't pay that one in full, I would go to the next card you can PIF. After paying in full, put the rest of the money towards whatever card has the highest interest rate.

[Closingracer99]

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@nursepower wrote:

I have $250 left for paying off Credit cards. Who do I pay?

Capital One Playstation Visa - Balance $167 - CL $500 May need this card in Aruba due to no FTF fee, although I still have QS1 PIF with $500 limit as well. APR  currently 0% for some reason.  

Chase Freedom - Balance $225 - CL $800 APR 22.99

Barclay's Apple Visa - Balance $246 - CL $500  APR 22.9%

Or send a bit to all of them?

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Pay off the ones with interest putting the minimum payment on the Playstation card and with the rest half on other other 2 each. 

[Creditaddict]

pay off apply and put rest on cap1

[timsim]

One thing to consider is if you are going for say a mortgage, they will care more about your debt to income.  In that case its best to pay off the cards with higher minimum payments.  For example my credit union card is always a low monthly payment (like $25) and my macy's is always higher ($50.00 for the same balance).