Reply to Credit Cards

Forum Index » Money and Finances

Reply to "Credit Cards"

Subject:

Emoticons





More smilies

Text Color: Font: Close Marks

[quote=Anonymous]DH and I have about $6K in credit card debt. We are strapped at the moment, however, and are unable to pay anything more than the minimum payments on each. In January, we will have a car loan paid completely off which will be $450 that we will have to put towards the credit card debt. We plan to not even have the money that is currently being directly deposited to the car loan even touch our checking account, since we know that we would blow it if it did. We are going to use the Dave Ramsey strategy and pay off the smallest card first since we both need to see something happening and not get discouraged. Even though $6K doesn't seem like a lot to many folks for us it is since we are not in high paying careers. We want the debt gone. I've already cut up the damn cards!

The cards we have are Target, Walmart, Khols, TJ Max/Marshalls & an American Express. Each of them have high interest rates. We are not savvy at playing the interest rate game but have heard many people opening up 1% or 0% cards and transferring balances, then paying off. Is this a good thing to do? When I did the math, paying $450 per month on $6K would take us a little over a year to pay off. Thoughts? [/quote]

Options

	Disable HTML in this message
	Disable BB Code in this message
	Disable smilies in this message

Review message

Search Recent Topics Hottest Topics