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what to pay off first
pete0020
Posts: 9 Forumite
I have a little money to reduce my debts, but what do I pay off first. I have a loan balance £2307 @ 19% & £193 pr mnth
a credit card balance of £3950 @ 19% 0% has just finished
& credit card balance of £4990 @ 24% 0% has just finished
I have £5200 spare, do I pay off the bigger card, the smaller card & half the loan balance or the loan balance in full & the rest off a card
I am tempted to pay off the bigger card & then hope they offer a new 0% cash offer to pay the other two.
hope you guys can help
a credit card balance of £3950 @ 19% 0% has just finished
& credit card balance of £4990 @ 24% 0% has just finished
I have £5200 spare, do I pay off the bigger card, the smaller card & half the loan balance or the loan balance in full & the rest off a card
I am tempted to pay off the bigger card & then hope they offer a new 0% cash offer to pay the other two.
hope you guys can help
0
Comments
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The higher rate card as there is no early settlement fee on cards.0
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Yes I would pay off the bigger card at 24% then put the rest towards the smaller card. Have you got any emergency savings to stop you using the cards again?I’m a Forum Ambassador and I support the Forum Team on the Debt free Wannabe, Budgeting and Banking and Savings and Investment boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.
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Yes, the card with the highest APR first.I am a Forum Ambassador and I support the Forum Team on Mortgage Free Wannabe & Local Money Saving Scotland & Disability Money Matters. If you need any help on those boards, do let me know.Please note that Ambassadors are not moderators. Any post you spot in breach of the Forum Rules should be reported via the report button , or by emailing forumteam@moneysavingexpert.com. All views are my own & not the official line of Money Saving Expert.
Lou~ Debt free Wanabe No 55 DF 03/14.**Credit card debt free 30/06/10~** MFW. Finally mortgage free O2/ 2021****
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One debt remaining. Home improvement loan.0
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