Tiffany
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pay as much as you possibly can....and for future reference...don't spend more than you can pay off each month. that way....no interest accrues and your credit rating stays high.
good luck |
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Rick B
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You should pay the balance in full every month.
Don't carry a balance on a credit card at 15%. That's crazy!
How much do you want to pay for those clothes, or that latte? |
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notyou311
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Aways pay the full balance every month. Otherwise you will pay more in interest than the items were worth and you will never be able to pay it off. Don't buy what you don't need or can't afford. |
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Army Wife
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Pay the minimum amount due in one check. Then write another check for however much more you can afford that month and write "apply to principle" on it. That second check will come right off of the balance you owe. You should be able to pay it off in a year if you pay a total of $200 a month. |
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Lincoln6
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Pay as much as you can every month until your balance is zero. Once that is accomplished, use your credit card as if you had to pay the balance in full every month and that becomes your credit limit for the month. |
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Gary
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I bet your minimum balance is around $37 a month of which $25 is for interest. Interest is calculated every month on the unpaid balance. If you can afford $200 a month then by all means pay that much. If will take you 10 to 12 months to pay off your $1,900. Do not use the card. Be aware by transferring a balance to another credit card usually involves a transfer fee as well. |
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Curious
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pay as much as you can and at $200/mo it will be paid off in about 11 months. the important thing is to not use it except for absolute emergencies. in essence you're paying 15% for everything you buy with credit |
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Beseder18
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Some of the numbers I did not know... but here is what one financial calculator says, "If you devoted $200.00 to your debt every month, it would be paid off in 11 months, and would cost you $135.42 in interest."
If you pay just the minimum amount of $47.50 (guess)," It will take you 180 months to be rid of your debt. In that time, you will pay $1,658.01 in interest."
I pasted the calculator link below so you can check the figures yourself. |
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my16paws
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Yes @ 200/month it will take you 11 months to pay off the Balance. You should pay as much as you can without causing you other financial hardship. Anything more than the 200 will just let you pay off the balance faster. |
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nwo
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I would pay as much as you possibly can without killing yourself. Bank's know how to get ya and they can change the interest rate without telling you or giving you a reason. If you have a good credit score you can always play hard ball and try to negotiate a lower interest or threaten that you'll transfer the balance to another bank if they don't. They might not bite but it's worth a try. It worked for me.The sweetest revenge is using their card then paying the entire balance when the bill shows up. They don't make a dime off you then. Whatever you do always pay at least the minimun on time or your credit score will suffer and you'll pay more money for future loans. |
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Steve R
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bankrate.com has this question that you can calculate different payments. For $200 a month, it will take you 11 months to pay it off. |
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chit
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once u start paying in instalments or in part, it is a never ending feature and is a very very costly affair. Say u have 1700 dollars pending payment and u spend 200 dollars this month. the credit card company is going to charge u interest on this amount also so, my dear, try to understand that once u make payment in instalments u are enriching the credit card company by paying such high rates of interest. I have never let it happen and always pay the credit card company in full at least a dsy before the due date and in the last eleven years have never paid a single cent in interest. now u can decide on youw aht u want to do, |
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Bianca B
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What ever you do don't pay low like that if your buying a lot of things.... |
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jackbondnj
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The 15% gives about $280
If the 15% isn't added every month, it may be payed off in a very long time.
If it's monthly, along with your payments, you'll be adding 80 dollars a month.
Put as much money as you can to paying off your debt, and avoid using the credit card at all costs. |
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laura
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I just got a credit card,silly really as i am not working.But ive got 200 pounds worth of stuff,you can pay it up i take it?new to all this. |
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