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CC payments

February 1st, 2014 at 04:58 pm

I got my check today (sometimes I get it he first, sometimes the third...gotta love the government!) so I went ahead and made Feb payments onto two of my CC's. Neither one are due until the middle of the month, but I like getting them out of the way as soon as possible so I make sure they get paid and I don't have to worry about coming up with the money for them later on.

TCC
Balance: $248.49
Due: $25
Paid: $30
New Balance: $218.49

LBCC
Balance: $1003.34
Due: $20
Paid: $30.34
New Balance: $970

Right now I'm on a repayment plan with my LBCC so there is no interest on it and I'm only required to pay $20 a month. Next month is the last month of that plan, but I should be able to get that extended for another 6 months. On the plan I can't use the card, but since it is for Lane Bryant and I no longer need to shop there for clothes, I don't mind not having it anymore. Since there is no interest on it, part of me wants to throw money at it to get it as low as possible before interest kicks back in, but I really need to throw money at my main CC, which has a balance near $5K.

3 Responses to “CC payments”

  1. creditcardfree Says:

    What are the interest rates on your credit cards? Sometimes paying off the lowest balance first gives you more momentum to keep paying down debt. If you thought you could pay off the LBCC before the interest kicks in, I would focus on that over the $5K because EVERY dollar you send in goes to reduce your balance while there is no interest.

  2. Petunia 100 Says:

    Do you have good credit, Ella Sea? If so, I suggest you apply for 0% balance transfer offers. Some even have no balance transfer fees.

    http://www.mymoneyblog.com/best-pre-screened-no-fee-0-apr-ba...

  3. EllaSea Says:

    I can barely afford the extra $5 or $10 a month I throw on the CC's now (I live on less than 13K a year in New England) and my credit is absolute poop. I've tried for lower interest rates, and new cards with better rates, and I've got the best deal possible already. Due to my disability, I can't work and the little part time work I can do goes towards things like my car insurance.

    I can see benefits for paying off my CC's either way. *sigh* I just want it all gone again (a few years ago I was CC Debt free...I miss that!).

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