Update on what I still owe:
—Credit Union: $3000
—Chase Rewards HRC: $1309
—Capital One: $2250
—World Points: $0 (done and done!)
New total: $6559, up from $5940. (I managed to see a dentist for a cleaning, etc., for the first time in years, and a $20 copay turned into a $750 “we have to deal with your fillings right now” ordeal. Yaaaay. =_=)
K, so here’s what I did. I opened a low-interest-rate account with a credit union and transfered the Capital One and World Point balances to that card, for a total of $3000. That paid off both those cards. Then, I transfered $2250 from the Chase Rewards HRC card to the (empty) Capital One card for the lower APR. (13.9% isn’t super duper, but it’s a head and shoulders above 29.99%!)
So, I’m playing APR shufflemancy, it looks like, but in my defense I did call the Chase people and asked to have my interest rate lowered, and they said “no”. So, fine; I lowered it myself… by transfering part of the balance to a card with a lower APR. So there.
Therefore, my World Points card is paid off (I closed the account a while back), but I opened another account with a credit union, so that still leaves me with three cards to handle. My new priority is paying down the Chase Rewards HRC card because of its super-high interest.
Here’s the new breakdown. I’m still dealing with (1) APR, (2) current balance, and (3) limit.Credit Union
- APR: 1.99% (first 6 months, then 9.25%)
- CB: $3000
- Limit: $3000
- APR: 13.90%
- CB: $2250
- Limit: $2500
- APR: 29.99%
- CB: $1309
- Limit: $3800
If I pay $100 plus the interest on the Chase Rewards HRC card, I’ll have it paid off by about this time next year. And of course, I’ll still be paying at least the minimum amount (though probably just a smidgen more) on the other two.
Now, as for my student loans. Simply put, I have a shit-ton of them. However, I spent most of March and the beginning of April consolidating them and during that process I signed up for the “income-based repayment plan”... Since my income is… well, let’s just say it’s not good… my monthly payments are, at this point, $0. Obviously, I would really rather just pay off the loans, but I have to work on one thing at a time, here, or I’ll get overwhelmed. If there’s anything I’ve learned in my time as a Real Adult, it’s that I can’t put too much pressure on myself or else I’ll cave and nothing will get done at all.
Next step is paying off that pesky high-interest card!