sal asked:
I have two credit card with a high balance that both have a limit of $5000
I have two credit card with a high balance that both have a limit of $5000
1. Balance is 4800 with interest of 27.99
2. Balance of 5100 with interest of 26.99
I have 5200 this month to pay on those credit cards, how can I use then wisely?
Roland
Bobby
I would pay off completely one of the cards, then start putting big chunks of payment on the other next month.
Comment by Joanne — August 26, 2010 @ 4:04 am
Vincent
Pay off the 27.99% credit card first. Then use what’s left to start paying down the other credit card. Cut your expenses and work on paying the whole thing off.
Comment by Melvin — August 26, 2010 @ 10:16 am
Alvin
Pay off the balance on the highest interest rate card first which is the $4800 card. Use the other $400 to pay on the lower interest rate card to lower the balance to $4700. Then pay off the $4700 balance as quickly as possible.
Comment by Donald — August 28, 2010 @ 6:46 pm