No. of Recommendations: 0
A small idea. Perhaps others here may have a thought...

Pay off the $1200 and $400 cards. Find which of the four have the lowest APR. Transfer the balances on the $1800 cards to this card (if possible), then send the remaining $400 from your checking account to this card (perhaps calling this card and explaining what you would like to do). This gets you down to one card (with the lowest APR) and a total debt of $3200 remaining. You stated that you began saving about two months ago and have $2000 in your checking account. If you can save $1000 per month, then you are debt free in a little over three months.

Anyone have any thoughts on this?

"Whaddya mean overdrawn!?!? I still have checks left!"
Print the post  


UGC Disclosure Notice Regarding Credit Card Posts
Community board discussions about credit cards are not provided or commissioned by banks who may have advertising relationships with The Motley Fool. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered.
TMF Credit Center
The Motley Fool Credit Center arms you with real tools and simple messages, that will help you in every credit situation.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.