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Subject:  Re: cash flow vs. interest rates Date:  7/10/2014  6:55 AM
Author:  neveragain Number:  308346 of 312987

So, you need to decide - what's really more important to you - paying the least in interest, or paying off particular debts? And then, be truthful to yourself and put a plan together to support that goal, and stick to the plan.

Intellectually I know paying off high interest debt is the better choice. But I have been jumping around. Amex still has a large balance because I paid off one of my bank of America's at 11.24. I believe the balance was in the range of 3k. I got a BT offer from discover but my last two BT offers from chase and citi offered me a credit line of only 3k. I didn't think discover would do any better so i decided against taking the hit to my credit. i instead directed my xtra payments that month and paid off my bank of america. I had hoped bank of America would offer me a BT for the full credit line of $7200. So far they have not. I also paid a little more towards chase at 14+%. The problem is I want these balances gone, long gone. It's hard to focus on 13k which is HUGE when there is low-lying fruit like the car loan which I had up to this point been keeping out of my debt repayment attack. I also have the cap one at 9.9 which is 3400 right now distracting me and the bank if America in the 3k range at 9.9 also tempting me. So being truthful to myself I guess what is ultimately more important to me is achieving those zero balances. I'm going to forgo paying the car loan for now and focus on either Amex or possibly one of the 3k balances.

I don't like snowballing. There, I said it. I just don't like it. It bothers me to ignore potentially payoff-able debt to focus on just one debt at a time. I not only don't like it, I hate it.
And you know what AJ, I'm not doing it anymore. I'm going to back away from the car and student loan for now. But the 3k balances r fair game at this point.
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