Credit Cards Best Way To Pay Off? Longwinded

s1h

Need to do something about them. Don't have as much as others on here but its still a lot to me and is really annoying me.

In total its about £2700 now spread across 5 cards.

£210 Capital one Mastercard
£530 Captial one Visa
£300 Barclaycard Visa
£720 Aqua Mastercard
£1000 Vanquis! Visa

Should I tackle one at a time or pay a bit off each one each month. They are all on high rates as well which doesn't help and because of my crap credit rating moving them over to 0% etc is not an option.

I was thinking about maybe paying off an additional £100 each month on top of the minimum payments between them not a lot I know but its about all I can afford at the moment.

Should I do that as say £20 on each every month? Or should I do them one at a time like for example the £200 cap 1 I could get rid of that in 2 months. Then move onto paying £100 a month of one of the others and so on.
Or I was thinking of paying £100 a month off on a rotating cycle, for example march cap 1 mastercard, then april cap 1 visa, then may barclaycard and so on.

Appreciate your comments, help and abuse.

Cheers

Broken_hearted

Clear them one at at time highest rate first.

GirlRacer_2

I'm actually trying to pay my cards off at the moment. I'm concentrating on one card at a time, paying minimum payments to all the others and ploughing any spare money into just one of them. When that's paid off I move onto the next card. I'm paying off the one with highest interest rate first.

The_Boss

Pay the monthly minimum payments on all and concentrate any spare money onto the one with the highest interest rate. In this case the Vanquis situation looks like it should be tackled first.

What are your credit limits on each of those cards?

The_Boss

There you go, three bits of similar advice within a minute

If you have spare room on any of your cards, try and transfer the Vanquis amount onto it , as I believe that would be bar far and away the highest interest rate.

CLAPTON

pay the minimum on each card except the one with the highest APR ..on that one pay as much as possible until clear, then move onto the one with the next highest APR etc

put your figures into the snowball calculator...

http://www.whatsthecost.co.uk/snowball.aspx

s1h

the credit limits are about the balances,

200
500
300
700
1000

As you can see above im a bit over some of them. Its just I have a bad habit of paying the minimum payment then Im skint I look at it and think there is money available spend it and then realise they havent taken the interest off so it takes me over.

flowerofscotland

The snowball calculator at https://www.whatsthecost.com will help with this - you need the APRs and the minimum payments for each card. You enter the information plus the total you can pay each month and it works out for you the best order to pay the debts - gives you a debt free date as well which is a great target

Good luck

s1h

vanquis is the highest, by far. So you all think work on that one first, i was thinking doing the lower ones first as that way i can pay them off then close them down not allowing me to use them

s1h

cheers ill have a look at the snowball later.

s1h

off for some lunch