How to pay off my credit card by stcybaby21

"Very Important in these times"

How I did it: I really love Suze Orman and she has this plan where you line up all your credit cards by interest rate with the highest first. Then you pay the minimum on all the cards while paying a little extra on the first. After that one is paid off you switch the money that you had been paying monthly on the first card over to the second card on top of the minimum you were already paying. You do this until you're done! This was a lot easier for me though cause I only had two cards totaling $1,000. But for those of you with more, just keep with it and make it your priority!       

Lessons & tips: Remember that the lower your debt, the higher your credit score and in today's economy, having a high score is really important.

Resources: Oprah's website, right now she has a lot of resources on there from Suze Orman

Suze Orman's website is also very helpful


5 people found this helpful
 

Jan 09, 2009, 09:57AM PST | 3 comments | 10 cheers


Comments:

dward726 is writing papers.

This is the approach I’m going with and I’ve already put a dent in my credit card debt. it was your post that really helped me get a logical plan as far as paying it off. thanks.

Apr 08, 08:27AM PDT | Thread | Respond to this

stcybaby21 is back!!!

thank you, i’m glad i was able to help. good job and keep going!

Apr 10, 07:05PM PDT | Respond to this

Bill has an awesome girlfriend!

Suze Orman knows what she is talking about.

You have some good advice there. However, I only have one card. I plan to pay it off with my income tax refund. It is only $450, but my credit card company decided to spike the interest rate on my card from 15% to 22% which is rediculous. I could save $10 a month if I pay it off.

Oh, I love the picture of the bear trap with the credit cards.

Dec 03, 12:26AM PST | Respond to this


stcybaby21 has gotten 10 cheers on this entry.

 

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