Which to pay first? 20 July 2013 at 11:02PM in Stoozing: free cash from credit cards 5 replies 1.3K views

Jerseylass

I was recently gifted £5000 and would like to pay off my credit cards. I have 3. Barclaycard bal £4900, Natwest bal £2500 and Vanquis £2200. Barclaycard I pay about £129 pm, Vanquis £89 pm and Natwest £51 pm. I'm not sure who to pay off first. Something off all of them? Barclaycard in full? Vanquis & Natwest together? Any ideas greatly appreciated for first time user of this site

matttye

What are the APRs on each one and when are the introductory offers, if there are any, due to end? What will the APRs be when the offers end?

guesswho2000

I can almost guarantee that paying off the Vanquis card should be #1 priority, it'll have a ridiculous interest rate I assume?

bsms1147

Vanquis then Barclaycard then Natwest based on the above.

So full Vanquis and £2800 of the Barclaycard.

matttye

bsms1147 wrote: »

Vanquis then Barclaycard then Natwest based on the above.

So full Vanquis and £2800 of the Barclaycard.

Why?

Without knowing the interest rates, it's impossible to provide suitable advice.

pjread

matttye wrote: »

Why?

Without knowing the interest rates, it's impossible to provide suitable advice.

True but I'd bet the Vanquis is by far the worst rate. I don't think they go below about 29%