Quote:
Originally Posted by masraum
Pay off the two 5k cards and then put as much as possible each month towards paying off the 10k card. Seeing only 1 bill is usually more of a morale boost than seeing multiple.
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Totally agree
Quote:
Originally Posted by Eric Coffey
Only problem with that is if the two $5k cards have been opened for a long time, it will ding his account history ratio.
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I don't agree because it should only affect the credit rating if the accounts are closed. I would pay them off but not close the accounts (assuming they are revolving credit accounts).
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With the two 5k accounts gone, it may be easier to pay the $10k account because some times the min pmt for the 3 cards may be more than 1 car with a 10k larger balance.
I think the most important thing is to get them all paid off rather than worry about your credit rating. I suspect that the credit rationg is not too good at the moment with that amount of debt and only being able to pay the minimum.
Where is he getting the $10k to pay off the debt?