I have 4 credit cards and I'm looking to put extra money on them. Here they are in order of when I received them uncluding aprox interest and aprox balance:
1. Bank of America- 10% aprox interest, $1,950 aprox balance
2. Capital One- 20% aprox interest, $430 aprox balance
3. Gap- 30% aprox interest, $370 aprox balance
4. American Eagle- almost paid off, only 2 months old
Cards 1 and 2 are a year and a half old, Gap is almost a year, and American Eagle is 2 months but I've only used it when I had the money to pay it off ($15 left)
I'll have about $500 to put on my cards, the first 3 are almost maxed out and I'm not worried about American Eagle because it'll be paid off this week.
Should I pay off one card completely and not use it (unless I have cash) OR should I put like $175 on each of the first 3 to get them away from the limits? I'm trying hard to improve my credit score and my spending habits are under control.
Thanks!
2007-10-13
16:38:08
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4 answers
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asked by
sara
2
in
Credit