Posted on September 29, 2008 at 12:02 pm I have about 8 credit cards.  Only 3 of them have balances however.  I have a card with 8.49% rate with a Limit of $2560 and a balance of $1500.  I have another 9.99% card with a Limit of $4000 and a balance of 3381.72.  I have another 8.99% card with a limit of $7500 and a balance of $6170.23.  I know it hurts to have maxed out cards, but would it make much difference if I take the first card with a balance of $1500 and split it up and transfer to my other 2 cards with balances?  I like having the minimum amount of cards with balances.  I feel it is easier for me to pay it down.  Any suggestions would be greatly appreciated. Thanks.

Posted on October 3, 2008 at 1:36 pm It looks to me that if you transfer the smaller balance to the other two cards you'll be paying more in finance charges.  I would try to save money and transfer the balances to the cheapest rate you can get.  Definitely payoff some of the 8 cards.  Are you paying the minimum payment due each month or are you trying to pay these off?

Posted on January 12, 2009 at 4:14 pm And don't forget there's always some small charge when you transfer balances.  Have you made any decision so far, or are you still in the planning stage?  How's your credit right now?  And - if I'm not asking too much - what are you paying out a month, ballpark?  

Posted on March 23, 2009 at 3:04 pm Ugh, this sounds like how I am with my debts. I keep telling myself - BABY STEPS!It's been really tough lately, but I think that with some hard work you can get these paid off, and you'll spend more wisely in the future