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Which is the best? OT -credit cards


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  #1  
November 22nd, 2011, 01:34 PM
Mom2DyJessAva's Avatar Platinum Supermommy
Join Date: Dec 2005
Location: chicopee ma
Posts: 15,513
I have two credit cards..Neither of them are majorly big..One has 330 and the other is almost 300...for awhile I was paying min payment and it just felt like I wasnt getting anywheres..So this month i put 100 on one instead of 15.00 and put 35 instead of 20.00..

so my question is..

should i divide them equally and put 50.00 on each card every month or should I put more towards one and pay it off then focus on the other?


***I know these are both extremely low but as you all understand money is tight!..not to mention..Im paying my grandparents 1000.00 next month..i owed them some money (roughly 600.00) but told my grandma i wanted to call it even and give her 1000.00..not only for lending me money but because i live here rent free etc
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  #2  
November 22nd, 2011, 01:38 PM
Mega Super Mommy
Join Date: May 2007
Location: Kentucky
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It would depend on which has the highest interest rate. Whichever one, has the smaller balance, I'd do that one first and pay it off quickly, then pay the other one off.

If one is higher (interest rate wise), then you should pay that one down first.
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  #3  
November 23rd, 2011, 02:20 PM
orrickster's Avatar Mega Super Mommy
Join Date: Sep 2008
Location: Bloomington, Illinois
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Good advice ^^. I don't know much about credit cards. I only had one through Best Buy for a washer and dryer.
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  #4  
November 23rd, 2011, 08:59 PM
blueyedbabii's Avatar Blueyedbabii<3
Join Date: Jun 2009
Location: WaRrEn, MI
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definatly pay off the higher interest one.
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  #5  
November 24th, 2011, 03:12 AM
Mom2DyJessAva's Avatar Platinum Supermommy
Join Date: Dec 2005
Location: chicopee ma
Posts: 15,513
thanks guys! im going to figure out which one has the higher interest rate and then do that!
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