Skip to main content
No. of Recommendations: 3
August 2013       April 2014       September 2014     December 2014
Amex 15.24           35454             23500                      0              0
Chase 14.24          16580             12000                    800              0
Chase Freedom        7143 (15.24)       4000(15.24)            8493 0%          7996 0% until July 2015 (15.24)
Bank of Am 1         7072 (9.9)         4000 (9.9)             8320 0%          8224 0% until Jan 2016 (9,9)
Bank of Am 2         8700 (11.24)       6000 (11.24)           7002 0%          6795 0$ until 9/2015 (11.24%)
Cap1 Vent 29.9       3395                  0                      0                0
Cap one  9.9         4384                3500                  3284                0
Prosper  19.79       9160                   0                    0                 0
prosper  14.79       9605                   0                    0                 0
Lending club 10.99                       15200                 13285.82            0
Citi                                     2500                  2838              2765 0% till 4/15 (22%)
Chase slate                                                    3047              2957 0% till 7/15  (?)
discover                                                                          8240 0% until 2/15 (12.99)
                    
                    101493                70700                47069             $36977


This is where I stand right now. The only debt that I am currently paying interest on right now are my student 
loan debt (19k - 2.625% interest) and the mortgage (approx 464k at 2.94% interest).

I can continue to pay off the consumer debt, snowballing until its wiped out - roughly September/October. 
Or I can slow down a bit and pay extra off of the student loan or mortgage and pay off the credit cards 
until the very last day that the 0% runs out on each extending my debt payoff by an additional four months. 
I am leaning towards making progress on the student loan or possibly the mortgage. We are in year 3.5 of a 
5 year ARM. I would like to refinance once we get the loan out of jumbo territory to get the best rate. The 
mortgage is roughly 3700 (PIT). We have been paying 5k/month to get to <417k to refinance.

Also, one side question, if the 0% runs until the last day of the billing cycle 7/20/2015, does that mean 
I have to pay the balance off on 7/20/2015 or does it mean that if I do not pay the balance on the next bill 
in August, I will have to pay interest?
Print the post  

Announcements

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.
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
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.