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-   -   Best to pay an amt. To each credit card or pay two off completely (https://www.askmehelpdesk.com/showthread.php?t=323938)

  • Mar 2, 2009, 10:30 AM
    wendywhite12
    Best to pay an amt. to each credit card or pay two off completely
    Hello.

    We have about $2,000 to use towards our credit card debt. We have several cards, all closing in on their limit. Which of the following would be best:

    1. This amount will pay off two, possibly three or close to three cards (one of the cards would be for a home improvement store that my husband is reluctant to give up), two of the cards could be paid in full and closed.
    2. Paying approximately $150 towards each card (along with normal or above monthly payment) to get further from the limit.

    I have a "plan" in place to try to get the cards paid off, but it will take me approximately three years to do so.

    Thanks for your advice.
  • Mar 2, 2009, 10:33 AM
    tickle

    Why don't you do a debt consolidation, find a ccc that has a low interest rate. Some offering better rates. Then stick to a plan over time.

    Tick

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