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Cash Gift- where should it go?
Comments
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You should definitely pay them all off. The £5000 will cover everything except these:
300 very
300 next
170 grattan
Use the money you were paying to the other cards to pay off the grattan and then the other two. You should be debt free in about 4 months.Paid off the last of my unsecured debts in 2016. Then saved up and bought a property. Current aim is to pay off my mortgage as early as possible. Currently over paying every month. Mortgage due to be paid off in 2036 hoping to get it paid off much earlier. Set up my own bespoke spreadsheet to manage my money.0 -
Pay of all the highest interest, the money you're saving in repayments you then put into savings. Better to clear the debt and not be paying interest!0
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Hi
It is tricky without knowing all the rates, but I would agree with paying off all but the 998 (assuming that is the lowest rate). That would still leave you with a small buffer. As someone else said keep at least one cc open, if you can trust yourself with it, as using and paying it in full each month is good for your credit rating and you may well get a 0% offer. It would be even better if the card was one that offered cash back or rewards.0 -
You should definitely pay them all off. The £5000 will cover everything except these:
300 very
300 next
170 grattan
Use the money you were paying to the other cards to pay off the grattan and then the other two. You should be debt free in about 4 months.
Very 39.9%
Grattan 34.9%
Next 23% or 26%
As before, I'd say pay these and leave the 988 balance card for now. If it's possible to get a balance transfer offer in a month or two, it may be easier to transfer; I don't know if balance transfers are possible to store cards.0
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