Good way to pay off CC debts?...

[HPorkchopD]

So ive got a couple of CCs that i need to pay off. I was thinking...should i pay a couple hundred per pay period on one specific check and pay the minimum on the others? or what? I figure a hundred on one and 25 or whatever on the others until the one gets paid off would be better.

[syntheticGT]

Pay minimum on your smallest balances...
Pay off the highest balance with as much as you can afford...
Then take that money and pay off the smaller balances...

:thumb:

[HPorkchopD]

yeah i just figure if i want to get some better credit, i need to pay off all my ccs...and just have one emergency one. i guess a 0 balance isnt the best but i need at least something i wont worry about having to pay off in case i need to.

[RACER X]

dave ramsey, says pay the most on the smallest amounts, then when you pay off 1 CC, roll that payment into the next larger one......and so on.

[HPorkchopD]

but what if i want to be a rebel and not listen to dave ramsey? lol

[benster]

I would payoff the one that has the highest % rate and so forth, no necessarily the largest balance amount.

You can also see if you can transfer your highest % card to lower ones or just call up your credit card and see if they match.

[HPorkchopD]

i think im gunna follow what racer x says. pay lowest then keep rolling that payment into each. dunno though...my idea is pretty good.

[RACER X]

he calls it a "debt snowball"

[yakkolio]

pay smallest off.

[beeverlyNJ]

yea just like everyone else said. pay the smallest off first so then you can apply that payment money to the next and so on.

otherwise you'll just keep trying to bring down the biggest balance which will definitely take a while while you still have x amt of other cards.

[DC]

I would payoff the one that has the highest % rate and so forth, no necessarily the largest balance amount.

You can also see if you can transfer your highest % card to lower ones or just call up your credit card and see if they match.

:wrd:

[Nato76]

dave ramsey, says pay the most on the smallest amounts, then when you pay off 1 CC, roll that payment into the next larger one......and so on.

After a lot of research and taking a seminar in credit repair I feel that this is the best way to do it. After you pay off all of your credit cards then use that money to start paying off your mortgage or use for investments.

[o0 ls/chic]

I simply rolled over the amount to the cc with the lowest interest rate.

[Red]

I simply rolled over the amount to the cc with the lowest interest rate.

yea i did something similar, i had a high balance and got a 0apr on transfer offer on another card so i transfered it over, gave myself a year with no interest to pay it off and i managed to get it paid off in half the time.

sadly i didnt learn my lesson but oh well. im better off then most.

[o0 ls/chic]

sadly i didnt learn my lesson but oh well. im better off then most.

your not the only one. It seems once we get one credit card paid of by the end of the month its already racked back up. SAD!

[Red]

i put alot of my gun stuff on my 0apr cards, but i think most lenders started to notice that i kept getting 0 apr offers and lately they've stopped... :(