I have a slight dilema. I'm usually a wizard with numbers. But on this one I'm stymied unless I sit down with both cards and add up the numbers. Then work with the figures for the combined cards and see which is the best way to go. Oh and this is NOT a moral support or sympathy issue in any way. Just wanting to find the quickest and best way to get credit cards paid off. They are indeed going down but not quick enough for my liking. Hey, I want to enjoy my raise!

But I have to see it first.

The problem is this. I am paying off two credit cards. Separately, they aren't so high. One will be (these amounts are approximate) 3800 the other 2800. Together it will be over 6,000. They quoted me the minimum will be 147 for both. The finance would be about 35 to 40 thereabouts for both.

Is it best to keep them separate or combine them? TIA!

I cant wait to hear what others say as Im in the same exact boat!

I was figuring if both amounts are relatively small it might be safer to leave them as is. But I have to physically see both invoices for each card to know for sure. It would make sense to only pay one finance charge, methinks.

Well as long we aren't up the creek without paddles we're fine!

What is the interest rate on each card?
Are they the same?
Will there be a fee to transfer one debt to the other?
Is the credit card company offering a lower rate on transfer balances? If so for how long and what will the interest rate jump to after?

What ever you do, do not close your credit card account once you pay it off, it will lower your credit score. Do not use your card once it is paid off, freeze it in a cup of water if you have to in the freezer, then you have to wait for it to thaw before using it and that will give you a lot of much needed time to think if you really need to make the purchase.

So, our situation is completely different (as in there are alot more cards, with alot more money) but we went with a consolidation company called money management international. We did extensive research and they are legit. It would have taken us about 13 years to pay them off, but with the company it is only going to take about 4 years. The interest is alot lower. Do you own a house? If you do, the other option could be to do a home equity line, the rates are SUPER low right now, and if you make more then the minimum payment, you will have it paid off in no time. :o)

Thanks, EJill!

Let's see actually the lower amount amount one has the higher interest rate I know it's above 10. The other with the higher amount it's 7.99. He told me it remains at 7.99 even with the transfer. Which would be great! Forgot to ask about a fee, he didn't mention it. But thanks I will remember to ask when I call again.

I will keep both cards open as these are the only two I have. I did pay everything off once before and used them again.

Thanks, iam! Nope don't own a house. Thankfully the amounts aren't that big! I would cry! Actually, I've owed more and paid it. I'm sure I can with this too. Just taking too long is all.

I do always pay more than the minimum plus I add on the finance charge to make sure the whole amount goes to the balance. My ex-coworker taught me that trick. It works!

Whoa!!! I just thought of something! If I can transfer to a card with 0 interest for a year would that work? Would I be able to send just a straight amount for one year?

That would rule!

That was going to be my next suggestion. :o) Find one that has a 0 for atleast a year, some have 18 months, and transfer both over. :o)

Neat! I think Discover offers that when you balance transfer. I have to call them and find out! Wow, that would really give me a lot of leeway!