How Long To Pay Off $614.90 in Credit Debt?

Question

How much would I need to pay to have it paid off by June 1st. How Much Should I be paying monthly. I get paid every two weeks, but its a work study job, so it basicaly chump change. How Much would I need to start paying in march to have it knocked down by june 1st

int rate, is about 20% its a cap 1 plat card.

Answer 1

Dude, you should go to one of those free community credit counseling agencies they can help you renegotiate you interest rate, and cut out those late fees etc.

Answer 2

Is there anyway you can sign up for a zero interest credit card?
I just got one from Bank of America (1800 732 9194) and it was a zero transfer fee and zero interest for 12 months.
If you are able to do that then it is a simple 615 divided by 6! problem....and honestly if you are able to do that then I would do a 615 divided by 11 so that you could keep more money for living expenses and savings.
Also, be sure to file taxes if your parents dont claim you. YOU can claim exempt and get ALL of your money back. You will probably quailify for the earned income credit and get at least $614.00 back, even if you have only earned $2k in your job all year !

Answer 3

$60 per check or $120 month to get it paid by june 1st because the interest cuts your payments pretty bad depending on the interest rate. My husband and I have a credit card with $10000 on it and our minimum payment is $260 but our finance charge even with only a 14% interest rate is $105/month so we really only knock off $155 of the $10000 each month. it sucks

Answer 4

I would advise you to make a payment every two weeks, that will knock it down faster by cutting down on the interest.

Not knowing what your interest rate is, it's hard to say, but you could probably go with 105. per payment just to pad it.

$102.50 per payment, if you start paying in March and go through June.

$102.50 x 6 payments = $615