Credit Card Help

[MrPolarZero]

I think you will likely have lots of problem here. It seems that your debt on the cards are starting to pile up. You might want to think about ditching one or two of them for good.

[Domain]

Master CC 1st then AMEX

I have started on the Master Card. And I must admit it feels really good to have started down my path. I got some extra money and the Master Card should be paid off next month :-) I will then apply the snowball effect to AMEX which will be a payment of about $360 a month.

With the $10k I'll pay off Citi. By the end of summer I should the snowball should be around $600 to hit up the personal loan.

With this plan by the end of the year I should be debt free. Boy does that feel good.

Let me know what you guys think.

[Domain]

Master Card Gone

Today I have paid off the Master Card:-) So, next month, with the snowball in full effect I will be paying $400 towards AE. Starting June I will get a raise of about $300, which will go towards the personal loan. And when I get the $10k, it will go towards Citi. By the end of this year I should be debt free. At that time I will talk to you guys about retirement.

[jpg7n16]

woohoo

[AshleyB]

congrats!!

[Domain]

TY

TY. It feels really good.

[Little House]

Congrats being almost completely debt free. I'm sure you feel relieved!

[Hector]

If I were you, I would attack debt with the highest interest first and then second highest and so on.

Make sure to keep an eye on credit card offers in the mail. As you keep knocking your credit card debt down, your credit score gets better and when you get a new card offer with substantial lower APR, make sure to do balance transfer.

[Domain]

Balance TX

I was thinking about transfering the 10K but it will only be until June and I might not even get the credit line on the new card that I need to cover the 10k. So I made a decision to just keep it on the one I have, which is close and will be done with once it's paid off.

[MrPolarZero]

Nice, you were able to get the ball rolling in just a short time. With the current rate, you will likely be able to settle the one with AE in probably a dew months.

[MrPolarZero]

This one is definitely not going to be a nice turn of events. But it is unlikely that they will be able to implement this immediately.

[Domain]

This one is definitely not going to be a nice turn of events. But it is unlikely that they will be able to implement this immediately.

I don't understand why you would say something like that, if you were trying to be helpful, and not explain?

[snafu]

Well done getting one card paid off so quickly. You can count on us to cheer you on. You might consider a serious belt tightening exercise between now and June or arrival of $10,000. throwing those saving into AMEX. You needn't wait until due date, an overriding goal is to reduce the cost of interest.

[dbstylee]

citi has lines with 0% on BT's for 18 months. move your high interest lines and you will pay them off in half the time without interest to worry about

[KennySoward]

I know the right answer is to pay off the highest interest card first, but sometimes knocking off the low-balances (or at least one of them) can give you some momentum.