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Daycovington

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Need advice on how much to pay and which credit card to pay down first
Need advice on how much to pay and which credit card to pay down first. My overall goal is bump my credit score up. I have two credit cards: credit card 1: balance $6200/ limit $6800/ APR 17.24%
Credit card 2: balance $4200/ limit $4500/ APR 23%
What would the experts do?

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You'll want to make large payments

to both,  Pay as much as you can on each.  my rulke of thumb is that all credit card balances MUST be paid in 4 payments or less.  There are other solutions as well  You don't mention what your score is but given the balances on your cards its probably not ideal.  If your score is over 670, I would try for one of the 0% balance treansfer cards that are available. Citi bank offers a "Simplicity card that has a 0% offer for 21 months, Which if you were able to transfer those balances you would at least save on the interest. 

You'll want to pay more to CC #2, it has the highest interest rate.  Ideally you'll want to pay that off as soon as possible.  That balance should not be above $1125.  at any time and you want to pay it off to $0 before you use it again. 

Paying off CC#1 will be your next goal,  It has a lower interest rate but a higher balance, so its probabaly costing just about as much each month as the other.  That balance should not be above $1700 at any time, again let it report a $0 balance before using it again.

Keeping your balances below 30% of your total available credit limit (around $2800 for both cards) and making as large a payments each month as you can possibly afford will get your score back up where it should be.

Credit cards should never be a substitute for living within your means.  If you can not pay off your credit card balances in 4 payments or less then your are using them more than you should be.

making only minimum payments on these accounts will take about 17.5 years to pay off if you do not change any thing else to them.

Hope that helps. 

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Pay down/off Card 2 first.   Pay the minimum each month on Card 1 and pour as much as you can onto Card 2.  Once Card 2 is paid off, roll that money onto Card 1.
 

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I agree with Chandla. Pay off the higher interest card first. The other thing to consider is if you have taken any cash advances form either card. Cash advances are charged at a higher interest rate. With some banks/card providers, aditional payments beyond the minimum will go toward the cash advance.

Paying toward the cash advance will lower interest and monthly payments. I hope this helps.

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