Help which card to pay first?
Hi, I'm 19 and from AZ and I decided I need to get a grip on my debts.
I basically have two credit cards, and maybe three things in collection (fingerhut, t-mobile, and paypal all less than $300) and a Sallie Mae student loan that I'm not worried about. It's the only one I've never missed a payment on. I pay $117 a month on the loan of $13k.
My two cards are through my bank and are:
Visa $4,685. limit of $4k and past due about four months. says the minimum payment is $862. apr 27.24%
Mastercard $848 with a limit of $600. min payment says $296. apr 18.24% also past due about four months.
I'm really nervous they'll go into collections and I want to talk to the bank rather than collectors. I only make about $400 a month at the moment but just completed school, and will be making approx $1600+ a month once I find a job. (Should be by April at the latest) I also have enough in savings to completely pay off the smaller Mastercard. What should I tackle first, and am I right in thinking about attacking the revolving debt first? I was also thinking of just starting to make minimum payments on both and paying whatever extra I could to the big card. All help is appreciated!
-Kailah
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