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  1. #1
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    Default Credit Car payments

    We have two credit cards, one has $4500 and the other has $3600.
    We have approx $4000 to pay them off.

    Should i pay #2 fully with $400 going on #1, or pay #1 and have one with $500 and the other with $3600, or should i pay $2000 off each?

    I pay $200 a fortnight on each credit card usually

    Obviously i meant Credit CarD. If a mod sees this, any chance you can fix the title?
    Last edited by IndigoJ; 10-01-2013 at 17:13.

  2. #2
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    I would pay the smaller one out completely, pay the extra on to the other one, then apply for a card that has a good deal on balance transfers.

  3. #3
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    Default Credit Car payments

    Pay the one with the highest interest rate first.

  4. #4
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    Default Credit Car payments

    What's your interest rate on both of them? Pay out/or as much as you can off the highest interest rate card.

  5. #5
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    Default Credit Car payments

    Yeah pay the one with the highest interest rate first. Even if its the one that has $4500 on it, you'll have the remaining $500 paid off in 6 weeks anyway, then agree with PP to get a balance transfer to avoid any interest on the other one :-)

  6. #6
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    Default Credit Car payments

    I would ask both banks what their current balance transfer offers are.

    Accept the offer from whoever has the best deal. Then transfer the balance of the other card and pay the full $4000 onto the one card.

    Just make sure that your account is set to pay off the highest interest items first, otherwise they will pay off the balance that you've transferred at a low rate first and you'll be no better off.

  7. #7
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    They have both the same interest rates, from the same bank.

  8. #8
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    Anyone know any major banks offering balance transfers? We are with NAB.
    If i was going to transfer id have to transfer the $3600 one as the other one is in my name and i dont have a job or anything, i dont think they would approve me for a credit card even if its a transfer.

  9. #9
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    Default Re: Credit Car payments

    Check out rate city. You can search cc by balance transfer deals.

    Sent from my GT-S5570 using BubHub

  10. The Following User Says Thank You to HarvestMoon For This Useful Post:

    IndigoJ  (10-01-2013)

  11. #10
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    Default Credit Car payments

    I know that ANZ are offering 0% for 10 months at the moment, which is really good.


 

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