I have 3 credit cards. Balances are 161,161,142,438 unfortunately my max available is really low on all..?

Question

My limit is

750

600

500

and the 4th is paypal "buyers credit" which is 175 max.. and i owe 142 yet.

The $438 account has lowest interest rate. But still is within the first 12 months.. The 161 wamu i get charged $3.88 a month on $161... it's insane.. I'd like to figure a way to possibly get these all on maybe a no interest 12 month card? Or should i just keep paying them till they are all done?

Answer 1

That is dumb.  Pay them off save on interest and rebuild.  You have the money and will still have $1,000 left.  It'll take you a few months to get back up to the $2,000 mark.  Get yourself on a budget to make sure you meet your goal.

Answer 2

You are losing money on the interest.   Take out the $1044.00 from your savings and pay them off.  Stop using the credit cards.  Credit card debt is like quicksand only the death is much slower.Then use the money that you were paying on the cards to build your savings back up.

Answer 3

Your 2.33% is not squat...... you are way overthinking this.

Pay the cards off and keep them open. You are paying much interest wise. If later you need fast money for an emergency you will have the cards. In the meantime you can rebuild.