Quote:
Originally Posted by creditcardfree
You'll probably make just under $40 in two months on $5300.
What are the interest rates on your other cards? How much extra are you paying towards the debt every month?
It is a good idea to be looking for other offers and move the money around while you try to pay these large balances down.
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Here is the overview of my debt.
I have 6 credit cards.
1. Amex
Balance on purchases is – 4000 – 15.29% var
Balance on Balance transfer – 8500 – 5.99% fixed
Credit limit – 13,300
( I made the mistake of purchasing after I did the BT, so now my monthly payments are going only towards the BT and not on purchases, it sucks)
2. AAA visa
Balance – 13,000 - 13.99%
Credit limit , 14,400 ( ba*ta*ds reduced it when I tried to increase it online yesterday, it was 15,000 before)
3. Sears card
Zero balance
Credit limit is $400
4. Walmart
Zero balance
Credit limit is $1,400
5. Chase rewards visa
Balance – $1, 200 – 23% var
credit limit - $5,000
6. Bank of America visa
Balance – $3,575 – 0% for 6 months after 18% variable
( did a balance transfer to chase card)
Credit limit - $4,000
I make 50,000 per year, married with a new born. Wife doesn’t work and a stay at home mom.
Thanks.