(03-15-2019, 07:34 AM)Sijray21 Wrote: Pay off the smallest account first and make minimum payments on the others. That'll get you going. Don't use them to buy anything else.
Pay down the highest interest charge (function of APR and balance) first. It may feel like a win to have a zero balance on something, but paying off $500 at 15% isn't as good as paying $500 at 29%. The exception to that is if you're having trouble keeping track of multiple accounts or you're recovering a delinquent account.
I have three credit cards.
Alaska Airlines, since we live at a hub - individual purchases* - $42k limit
Citi Prestige, for exceptional travel rewards - family purchases - $46.5k limit
Capital One Venture, old card kept for backup/scoring - $33k limit
* My wife and I both have personal cards that the other person doesn't see.
'76 911S | '14 328xi | '17 GTI | In memoriam: '08 848, '85 944
"Here, at last, is the cure for texting while driving. The millions of deaths which occur every year due to the iPhone’s ability to stream the Kim K/Ray-J video in 4G could all be avoided, every last one of them, if the government issued everyone a Seventies 911 and made sure they always left the house five minutes later than they’d wanted to. It would help if it could be made to rain as well. Full attention on the road. Guaranteed." -Jack Baruth
"Here, at last, is the cure for texting while driving. The millions of deaths which occur every year due to the iPhone’s ability to stream the Kim K/Ray-J video in 4G could all be avoided, every last one of them, if the government issued everyone a Seventies 911 and made sure they always left the house five minutes later than they’d wanted to. It would help if it could be made to rain as well. Full attention on the road. Guaranteed." -Jack Baruth