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Personal Finances / Credit Cards and Consumer Debt


Subject:  Re: Credit Card Debt Question Date:  5/6/2013  8:52 PM
Author:  aj485 Number:  306987 of 309666

I am paying 15% on $28,000 and 13% on $2,700

I pay $200 a week on the $2,700 and do not charge on the card any longer

Have you stopped using both cards? If not, you need to do so immediately. And if you feel iike you 'have' to use a card, at least use the one with the lower interest rate, add enough money to your payment to cover any new charges that week to the $200/week you are currently paying.

How much are you paying the the card with $28k on it?

From a strictly mathematical standpoint, you would be better off paying just the minimum on the card with $2700 on it, and putting the rest of the $200/week toward the card with $28k on it.

That said, at $200/week, you should have the $270