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paying off credit cards...


SRTurbo04

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Well i need a few honest opinions on here(no bullshit please or ill ban your ass :D)

 

this is the suitation have a few cards that need payed off. the larger balances i have seem to have lower payments while the lower balances have higherpayments (assbackwords i know)

 

same aprs.

 

would you pay off the lower balances first so you can free up monthly cash so then you can put the extra $ to put twords the higher balances after?

 

 

i know in theory you want to pay the higher balances first but with paying off the lower you would free up more $ monthly to pay twords the higher there for paying off the ccredit cards faster...or woudl you try to pay off the higher balances first?

 

am i on crack for thinking this?

 

whats your opinions on the best way posssible?

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Pay highest balances first because you're paying interest on more money.

 

How much difference in min. payments are we talking?

75 to a 100

You got it right > pay off the lower balances first so you can free up monthly cash so then you can put the extra $ to put twords the higher balances after?

thats what im thinking. all i know is young and dumb sucks when your trying to fix ur self now ughh FML :lol:

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Balances/payments don't mean jack. It's all about the rate. If the rates are all identical then I would 'snowball' the payments. Meaning pay off the smallest cards first and use the payments you were paying on those towards the other cards once you have them paid off.
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Balances/payments don't mean jack. It's all about the rate. If the rates are all identical then I would 'snowball' the payments. Meaning pay off the smallest cards first and use the payments you were paying on those towards the other cards once you have them paid off.

 

Yeah pay off lower bal and put that towards paying off the higher ones.

yea aprs are the same. i use to just pay in full each month but things got out of hand quick and idk im a tard, trying to make up for my mcsteaks.

 

 

 

 

btw not behind or over at all so im not a douche who isant paying there bills just want to find the best, fastest way possible

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yea aprs are the same. i use to just pay in full each month but things got out of hand quick and idk im a tard, trying to make up for my mcsteaks.

 

 

 

 

btw not behind or over at all so im not a douche who isant paying there bills just want to find the best, fastest way possible

 

 

Also, have you looked into getting ANOTHER CC that ALL of the balances can be transferred to, preferably one that has 0% APR on transfers???

 

Then, ALL your $$$ goes to the Total...

 

KillJoy

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I think you'll feel better seeing the littler bills disappear, but I think you'll come out ahead to throw more money at your higher balances first.

 

I'm no financial adviser though. :)

 

i know it would be smarter to do the higher first but i just cant see it getting payed down faster that way. idk thats why im posting to get some honest opinions.

 

i know it will be more interest on the higher cards but if i can pay down the small ones ina few months then start throwing gobs of $ at the bigger balances to get them payed off.

 

hmm

 

 

btw yea feels good to pay them off..payed off the fiances ring last month wooohoo

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Also, have you looked into getting ANOTHER CC that ALL of the balances can be transferred to, preferably one that has 0% APR on transfers???

 

Then, ALL your $$$ goes to the Total...

 

KillJoy

all the offers i get arent for a big enough credit line and its not worth it to to open it PAY the 3 or 5% to transfer it and then have another card open. i am exploring this option though

 

file bankrupcy and keep your car, pay back pennies on the dollar, stick it to the man.

 

j/k

yeaa not over this little of debt. my brother did that a few years back and screwed over my mom in the process. my moms still trying to fix his fuck up lol

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all the offers i get arent for a big enough credit line and its not worth it to to open it PAY the 3 or 5% to transfer it and then have another card open. i am exploring this option though

 

 

yeaa not over this little of debt. my brother did that a few years back and screwed over my mom in the process. my moms still trying to fix his fuck up lol

 

Hence the j/k, I went down that road and it wasn't fun. Too bad you don't have something to refinance and absorb everything.

 

BTW Are you going to go to BW3 every tuesday now?

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I'm trying to figure this out myself Paul. I'm in a position where my tax return will pay off my 3 credit cards. After that I plan on getting rid of them and use the Dave Ramsey style "emergency fund" credit card, where basically you set aside $1000 or however much, and use that as an interest free credit card of sorts, where if you have to dip in to it you pay yourself back ASAP.
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Balances/payments don't mean jack. It's all about the rate. If the rates are all identical then I would 'snowball' the payments. Meaning pay off the smallest cards first and use the payments you were paying on those towards the other cards once you have them paid off.

 

That is how we do it, and it builds more confidence and drive to continue to pay them off.

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Balances/payments don't mean jack. It's all about the rate. If the rates are all identical then I would 'snowball' the payments. Meaning pay off the smallest cards first and use the payments you were paying on those towards the other cards once you have them paid off.

 

Bingooooo. Don't undermine the concept of percentages.

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