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I went through a rough stretch last year me and my wife both lost our jobs and we were basically living off credit cards. We're both employed now but things are still a bit tight we're making min payments but the balances are going nowhere and the min payments are sky high. Through the help of family members we have about $8k to put towards the balances I just don't know which card or cards to use the money on any advice? Thanks

 

Amex:$13,195 balance/$13,500 limit/22.24% apr

 

WF:$7,500 balance/$7,500 limit/19.99% apr

 

Disco:$4,367 balance/$4,500 limit/23.74% apr

 

Walmart:$5,913 balance/$6,000 limit/23.65% apr

 

Barclay:$4,975 balance/$5,100 limit/25.99% apr

 

Amazon:$487 balance/$5,000 limit/26.74% apr

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I went through a rough stretch last year me and my wife both lost our jobs and we were basically living off credit cards. We're both employed now but things are still a bit tight we're making min payments but the balances are going nowhere and the min payments are sky high. Through the help of family members we have about $8k to put towards the balances I just don't know which card or cards to use the money on any advice? Thanks

 

Amex:$13,195 balance/$13,500 limit/22.24% apr -$1,000

 

WF:$7,500 balance/$7,500 limit/19.99% apr -$1,000

 

Disco:$4,367 balance/$4,500 limit/23.74% apr -$2,200

 

Walmart:$5,913 balance/$6,000 limit/23.65% apr -$3,000

 

Barclay:$4,975 balance/$5,100 limit/25.99% apr -$500 or 2x min. (Barclay may bal. chase - Reason I set this one lower)

 

Amazon:$487 balance/$5,000 limit/26.74% apr -$487

 

This^^^ is what I would do. Others may do it differently.

 

Do you have any derogs of any kind, or high utilization only?

 

DO NOT ADD ANY NEW CHARGES TO YOUR CCs.

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I went through a rough stretch last year me and my wife both lost our jobs and we were basically living off credit cards. We're both employed now but things are still a bit tight we're making min payments but the balances are going nowhere and the min payments are sky high. Through the help of family members we have about $8k to put towards the balances I just don't know which card or cards to use the money on any advice? Thanks

Amex:$13,195 balance/$13,500 limit/22.24% apr -$1,000

WF:$7,500 balance/$7,500 limit/19.99% apr -$1,000

Disco:$4,367 balance/$4,500 limit/23.74% apr -$2,200

Walmart:$5,913 balance/$6,000 limit/23.65% apr -$3,000

Barclay:$4,975 balance/$5,100 limit/25.99% apr -$500 or 2x min. (Barclay may bal. chase - Reason I set this one lower)

Amazon:$487 balance/$5,000 limit/26.74% apr -$487

 

This^^^ is what I would do. Others may do it differently.

 

Do you have any derogs of any kind, or high utilization only?

 

DO NOT ADD ANY NEW CHARGES TO YOUR CCs.

I have no derogs, I definitely won't be using any credit. I definitely wasn't thinking about spreading the money across each card that's an interesting strategy thanks
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I went through a rough stretch last year me and my wife both lost our jobs and we were basically living off credit cards. We're both employed now but things are still a bit tight we're making min payments but the balances are going nowhere and the min payments are sky high. Through the help of family members we have about $8k to put towards the balances I just don't know which card or cards to use the money on any advice? Thanks

Amex:$13,195 balance/$13,500 limit/22.24% apr -$1,000

WF:$7,500 balance/$7,500 limit/19.99% apr -$1,000

Disco:$4,367 balance/$4,500 limit/23.74% apr -$2,200

Walmart:$5,913 balance/$6,000 limit/23.65% apr -$3,000

Barclay:$4,975 balance/$5,100 limit/25.99% apr -$500 or 2x min. (Barclay may bal. chase - Reason I set this one lower)

Amazon:$487 balance/$5,000 limit/26.74% apr -$487

This^^^ is what I would do. Others may do it differently.

 

Do you have any derogs of any kind, or high utilization only?

 

DO NOT ADD ANY NEW CHARGES TO YOUR CCs.

I have no derogs, I definitely won't be using any credit. I definitely wasn't thinking about spreading the money across each card that's an interesting strategy thanks

 

90% utilization on a single card is considered maxed out.

 

You should tweak the amounts on the Amex, WF, & Barclay to report at 89% max., to start with. After these 3 are paid down further you may be able to qualify for a 0% BT offer of some kind.

 

Disco & Wally should be at 49% (that's what I was going for).

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I went through a rough stretch last year me and my wife both lost our jobs and we were basically living off credit cards. We're both employed now but things are still a bit tight we're making min payments but the balances are going nowhere and the min payments are sky high. Through the help of family members we have about $8k to put towards the balances I just don't know which card or cards to use the money on any advice? Thanks

Amex:$13,195 balance/$13,500 limit/22.24% apr -$1,000

WF:$7,500 balance/$7,500 limit/19.99% apr -$1,000

Disco:$4,367 balance/$4,500 limit/23.74% apr -$2,200

Walmart:$5,913 balance/$6,000 limit/23.65% apr -$3,000

Barclay:$4,975 balance/$5,100 limit/25.99% apr -$500 or 2x min. (Barclay may bal. chase - Reason I set this one lower)

Amazon:$487 balance/$5,000 limit/26.74% apr -$487

 

This^^^ is what I would do. Others may do it differently.

 

Do you have any derogs of any kind, or high utilization only?

 

DO NOT ADD ANY NEW CHARGES TO YOUR CCs.

I have no derogs, I definitely won't be using any credit. I definitely wasn't thinking about spreading the money across each card that's an interesting strategy thanks

90% utilization on a single card is considered maxed out.

 

You should tweak the amounts on the Amex, WF, & Barclay to report at 89% max., to start with. After these 3 are paid down further you may be able to qualify for a 0% BT offer of some kind.

 

Disco & Wally should be at 49% (that's what I was going for).

Ahh ok I see what you're saying! Silly me was thinking about paying off WF and Amazon.
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