Question

I need advice on which credit card to focus on next. One credit card has a balance of 2500, 0% interest until May 2021, minimum payment of $25. The other credit card has a balance of 1900, 12% interest rate, minimum payment of $50. Should I focus on the interest free one to make sure I can pay it off in time? Or focus on the lower balance that is accruing interest? Thank you!  

Answer 1

I would focus on the one with interest.  

Answer 2

I would focus on the high interest one. May 2021 is a decent way off and your balances aren’t too high.  

Answer 3

The one with interest❗

Answer 4

If you follow dave Ramsey youd be paying the $1900 one first bc the balance is lower.  

Answer 5

Pay off the card that is hitting you with 12% every month.  

Answer 6

12% card then haul ass on the other one!  

Answer 7

Interest cause when u get done u can snowball it to the 0 interest

Answer 8

Run the numbers. If you focus on the 12% how long will it take you to pay it off? Then divide the balance of the 0% one by the number of months you would have left to pay it off. If the numbers work then pay off the 12% one. If the numbers don’t work focus on the 0% if the interest in May is going to be higher 12% and be applied to the entire balance of the card not just what is left on it in May 2021.  

Answer 9

156. 25 is what’s needed to pay off the 0% by May 2021, anything beyond that I’d throw at the 12%. I would also pay off the 2500 a month early just to be safe so you’re not hit with any back interest