I have 3 accounts with balances and this is the time to start paying them off..Wanting a home loan in 2 years or so... Citi-Bank Limit 14k owe 13.5k @ 7.15v Citi-Bank Limit 8k owe 7.5k @ 7.9 for life of BT National City limit 4k owe 3.9k @ 12.99 Should i just pay on nextcard or should i bring them all down a bit and then pay nextcard..
I suggest you get rid of that nextcard balance, they are going down fast and who knows who or what will happen to their account holders. May I ask if your balances are current, those accounts are all close to limit and your score is good, just curious if citi hasn't updated for you like most of us.
All the accounts are up to date on my equifax report but i do know what you mean about citi..Right now they must only update equifax cuz the others dont show true amounts...O ya that was National City not Nextcard..However i have one with a 6k limit and a 0 balance.
I'd suggest paying just the minimums on the 2 Citi cards and then, throw every nickel you can at the 3rd card that carries the +12% rate. When that one is paid off, Start paying all you can at the card with the next highest rate and just the miniums on the other card. If at all possible, get rid of the highest interest rate debt as soon as you can.
You are VERY close to your limits on each of those accounts. This can be a "trigger" for any one of them to jack up your APR's. To be safer, get each one of them to at least $1000 below the CL and after you have accomplished that, make maximum payments to the one with the highest interest rate and minimum payments to the other two. Good luck... Mist
Yes Mist is right. I am also very surprised your score didn't take a major hit with having 3 accounts almost maxed out. I had that happen abut a year ago and my scores took a major nose dive, learned my lesson.
Ok i forgot to mention that this is me and wifes debt together..I own the 14k citi the other 2 are hers..Sorry i should have mentioned this in the begining..So on my equifax report only the citi has a balance the others are paid with 7k avaible credit..#1 reason for low score was length of time accounts have been established and 2 was to many inquires in the past 12 months and 3rd was proportion of balances to credit limits..Oldeest open account is citi and been 2 years now..My min payment is $280 area so what is appropriate to send them so they dont say i pay only min i send them like $30-50 extra..
If I understand you correctly, you have the Citi Account with the 14,000 CL and the 13,500 balance. If that is so, the first thing YOU need to do is get that balance down to at least 12,999. You wife, to whom the other two accounts belong, needs to get her balances on each account to $1001, UNDER her Credit Limits. This will immediately put you both on safer ground. After that, pay off the highest interest first while paying minimum or just over minimum on the other two. You are both at serious risk for having your APR's jacked up and if I were you I would beg, borrow, and steal to get them all under $1000 of their credit limits ASAP.
Ok i knew this amex loc would come in usefull..I will deposit into my checking account and then pay citi for the both of us..Citi is the best card we got cuz my apr is 7.65%v never was higher that 12% and wife has 7.99% till bt is paid but her regular rate is like 13.49 i think..Other than that the rest of our cards are 12.99%+ which we use for ratio's... Thanx
