help on credit card debt.

[hall0731]

Ok . I need some opinions. I can send somewhat of two large payments to a credit card a month. I am doing the dave ramsey thing and have paid off 5. I am working on our last two. Should I just keep going with the smaller one which has a balance of 1962 or work on the capital one which is higher at 3150? At the end of it I will have them paid off by October when are baby is born. Or should I break the payments up and send one large payment to each one each month? I don't know what would look better.

 

[tinkerbelletreasure]

Ok . I need some opinions. I can send somewhat of two large payments to a credit card a month. I am doing the dave ramsey thing and have paid off 5. I am working on our last two. Should I just keep going with the smaller one which has a balance of 1962 or work on the capital one which is higher at 3150? At the end of it I will have them paid off by October when are baby is born. Or should I break the payments up and send one large payment to each one each month? I don't know what would look better.

I think it would depend on what your debt furture looks like...if you are planning on making a big purchase when your baby is born, like buying a bigger car/house, it might look better credit wise to have both card at less than half your credit limit. If you are not planning on making big purchases, it is better to pay down the smaller one first and then wrap that payment into the second one when you are done.

 

[hall0731]

I think it would depend on what your debt furture looks like...if you are planning on making a big purchase when your baby is born, like buying a bigger car/house, it might look better credit wise to have both card at less than half your credit limit. If you are not planning on making big purchases, it is better to pay down the smaller one first and then wrap that payment into the second one when you are done.

We are not making any large purchases. Already have a house big enough for the new addition and we have a truck and a tahoe, so no new vehicles.

 

[Shreggor]

In that case, continue snowballing.