I agree that you should knock out the 21.49% one right now.
As for the 1k you would have left after that, I'm not sure and depends on what time frame you have for paying all these off. I'm inclined to say put the rest toward the 16.49% one since that would take care of half of it and you'd be that much closer to having another one down. But I see that 25.49% one will start hurting in a couple months. If you think you'll have another 2k in a couple months to pay that one off, then it's a moot point though.
Minimum payments for all and anything that ensures you keep the 0% then pay highest effective interest rate first.
For the promo with two months at 0% it depends on how soon you think you'll be able to pay it. If you think you'll be able to pay it off after four months you'll be paying 0%, 0%, 25.5%, 25.5% or effectively 12.75% on average over the next four months and so you should pay it last right now. If you think it'll take a full year to pay that will average out to 21.25% and should be higher on your list. The math is less exact than this because of compounding interest and whatever your minimum payments are, but I hope that helps you make some sense of it.
Goals: 
Wishes: 
@FeedMeCredit wrote:Hi all,
I've been a long-time lurker on this forum, but I don't post very often. This year, I've really felt like I've been treading water with debt paydown due to medical and family emergencies. But, I've got about $3,225 that I can use to pay down some of these cards, and I'd very much appreciate any suggestions.
These are my cards that have balances:
I would use $3,000 towards paying down ALL the cards:
$400 - $2,250 of $2,400 limit - 25.49% interest rate (0% for a couple more months)
$400 - $2,417 of $3,600 limit - 23.99% interest rate (0% as long as I pay as agreed)
$800 - $2,200 of $3,600 limit - 21.49% interest rate
$800 - $6,320 of $9,500 limit - 16.90% interest rate
$600 - $2,420 of $11,500 limit - 16.49% interest rate
I would get a headstart on those 0% cards because of those high interest rates coming due, and utilization for both are getting up there...
It'd be easy to just pay one of the lower balances off in full, but I'm trying to save on interest because I'm in the payoff journey for the long haul. The first card will not suffer any interest for another 2 statements. The next card down is PayPal Credit, so it's 0% interest as long as I don't miss a payment, which isn't a problem. So, I'm thinking the third card down (21.49% interest) is my target since interest in being charged every month, but I wanted to get others opinions.
@FeedMeCredit wrote:Hi all,
I've been a long-time lurker on this forum, but I don't post very often. This year, I've really felt like I've been treading water with debt paydown due to medical and family emergencies. But, I've got about $3,225 that I can use to pay down some of these cards, and I'd very much appreciate any suggestions.
These are my cards that have balances:
- $2,250 of $2,400 limit - 25.49% interest rate (0% for a couple more months)
- $2,417 of $3,600 limit - 23.99% interest rate (0% as long as I pay as agreed)
- $2,200 of $3,600 limit - 21.49% interest rate
- $6,320 of $9,500 limit - 16.90% interest rate
- $2,420 of $11,500 limit - 16.49% interest rate
It'd be easy to just pay one of the lower balances off in full, but I'm trying to save on interest because I'm in the payoff journey for the long haul. The first card will not suffer any interest for another 2 statements. The next card down is PayPal Credit, so it's 0% interest as long as I don't miss a payment, which isn't a problem. So, I'm thinking the third card down (21.49% interest) is my target since interest in being charged every month, but I wanted to get others opinions.
$1250 to $2400 card
800 to first $3600 card
500 to second $3600 card
725 to $9500 card
what banks are the higher limit cards (9500/11500)? the reason I ask is because as long as I have had them, bofa, citi, disco have always had 0% or low interest balance transfers available for me.
if you have offers available, it is conceivable you could payoff #5 and the remainder towards #4. then balance transfer the remainder of #4 to #5. then balance transfer #1 and #3 to #4. yes you'll pay $300-500, depending on the transfer fees, but conceivably you could get everything on 0% interest for 12+ months. at that rate you're saving $200 month in interest to add to your household budget or use towards paying off the total faster.
might sound complex and a little scary, but I paid off 30k+ in revolving debt with a similar process and saved thousands in interest. others might holler, "but utilization!" I say finances > fico.
| BEFORE | bal | lim | apr | int $ / mo | util % |
| 1 | 2250 | 2400 | 25.49 | 48 | 94 |
| 2 | 2417 | 3600 | 0.00 | 0 | 67 |
| 3 | 2200 | 3600 | 21.49 | 39 | 61 |
| 4 | 6320 | 9500 | 16.90 | 89 | 67 |
| 5 | 2420 | 11500 | 16.49 | 33 | 21 |
| TOTAL | 15607 | 30600 | 209 | 51 |
| 0% BT | bal | lim | apr | int $ / mo | util % |
| 1 | 0 | 2400 | 25.49 | 0 | 0 |
| 2 | 2417 | 3600 | 0.00 | 0 | 67 |
| 3 | 0 | 3600 | 21.49 | 0 | 0 |
| 4 | 4450 | 9500 | 0.00 | 0 | 47 |
| 5 | 5515 | 11500 | 0.00 | 0 | 48 |
| TOTAL | 12382 | 30600 | 0 | 40 |
| 1.99% BT | bal | lim | apr | int $ / mo | util % |
| 1 | 0 | 2400 | 25.49 | 0 | 0 |
| 2 | 2417 | 3600 | 0.00 | 0 | 67 |
| 3 | 0 | 3600 | 21.49 | 0 | 0 |
| 4 | 4450 | 9500 | 1.99 | 7 | 47 |
| 5 | 5515 | 11500 | 1.99 | 9 | 48 |
| TOTAL | 12382 | 30600 | 17 | 40 |
but if #2/$2417 is 0% indefinitely (as stated in your first post), make that the last one you pay off.
if the 11500 limit citi is the simplicity or diamond preferred, I personally would take the chance and pay it off and take the risk a balance transfer may/may not be offered after that.
more conservatively, pay off #1 and the remainder to #3.
| BEFORE | bal | lim | apr | int $ / mo | util % |
| 1 | 2250 | 2400 | 25.49 | 48 | 94 |
| 2 | 2417 | 3600 | 0.00 | 0 | 67 |
| 3 | 2200 | 3600 | 21.49 | 39 | 61 |
| 4 | 6320 | 9500 | 16.90 | 89 | 67 |
| 5 | 2420 | 11500 | 16.49 | 33 | 21 |
| TOTAL | 15607 | 30600 | 209 | 51 |
| STEP 1 | bal | lim | apr | int $ / mo | util % |
| 1 | 0 | 2400 | 25.49 | 0 | 0 |
| 2 | 2417 | 3600 | 0.00 | 0 | 67 |
| 3 | 1225 | 3600 | 21.49 | 22 | 34 |
| 4 | 6320 | 9500 | 16.90 | 89 | 67 |
| 5 | 2420 | 11500 | 16.49 | 33 | 21 |
| TOTAL | 12382 | 30600 | 144 | 40 |
then ask #1 for a limit increase. citi allows for one every six months and it is a soft pull, too bad they do not allow limit reallocation. depending on if/what you get, you make a decision on whether to transfer from #3 or #4.
but if you can pay off #3/$1225 (you stated 1k in two months), I would probably snowball that and actually transfer as much as possible from #4 so you end up with something like this.
| STEP 2 | bal | lim | apr | int $ / mo | util % |
| 1 | 2000 or more if limit increase | 2400 or more if limit increase | 0.00 | 0 | 83 |
| 2 | 2417 | 3600 | 0.00 | 0 | 67 |
| 3 | 1225 | 3600 | 21.49 | 22 | 34 |
| 4 | 4320 or less if #1 | 9500 | 16.90 | 61 | 45 |
| 5 | 2420 | 11500 | 16.49 | 33 | 21 |
| TOTAL | 12382 | 30600 | 116 | 40 |
I appreciate you taking the time to type it all out. Ever since I began paying down my debt a couple years ago, I've been anxiously waiting a BT offer on the big Citi card (it's a Double Cash card), but have never gotten one.
I think I'll focus on paying off #1 for now and then take the balance transfer offer that card has, transferring from #3 and then seeing where I'm at with the rest. That's why I love this forum, it's always very helpful input and different points of view with no judgement, so thanks for that. 