So basically I have one card with an $700 balance and another card with a $600 balance. Both cards have about a 20% interest rate. One card closes on the 24th of the month and another the 14th of the following month. This debt was originally about twice that, but I made a solid dent in it with my tax refund. Now I can pay about $300-400 a month but some of that is going to interest. My question is: can I pay off the entire balance on one card while the other card closes and then do the same with the other card, essentially having whichever card is closing soon at a $0 balance and the other card at the full balance? This way I can make my payments towards the actual debt and not have interest eating away at me? Without interest I can get it all paid off in about 3 months but with interest it's gonna be a few months longer. Is this possible/legal? Any suggestions?
And yes I know I made pretty poor decisions leading up to me being in this situation, but I haven't made any large purchases in the past 5 months so I'm feeling pretty proud of myself. (Big ticket items are what landed me here in the first place)
Submitted March 23, 2017 at 09:32AM by nineball22 http://ift.tt/2nb3BMT
