You can make multiple payments to the same account in one month; so pay the first one on time with what you have available; then make another payment when the rest of your money is available.
Some credit card companies will make your payment due date to suit you, just call them and ask.
As far as which to pay first … if you need the incentive of seeing big results; pay the smallest balances off first; if you can be disciplined, pay the most on the account with the largest interest fee. You will save more money paying off the larger interest fee account first.
Have you considered paying on-line every 2 weeks?
I understand where your coming from with high versus low interest rates… I believe you said you have quite a few cc’s, dont concentrate so much on interest rates, but paying off cards…start winning with attacking and eliminating your cards…
Now if you only have two credit cards and lets say one has $10,000 on it with 8.9% and another one was $15,000 with 29% interest, then I’d probably pay the big one. But when people are up to their eyeballs in debt and your paying 10-15 cc’s trying to decide what to pay and when, just start paying off anything you can, then as you pay those off use that extra money towards the little cards towards the bigger cards and you’ll have more money to attack those cards. If you get paid bi-weekly, your going to have to adjust your payment schedule and you can call the cc’s to adjust the payment dates. They will have no problem with that if it helps.
Debt Consolidation just groups all the cards at a lower interest rate for a longer period of time reducing your monthly payment, but there are fees involved and in most cases you pay more money because the length of the loan is longer. Why pay somebody to pay your bills when you have the money to do it yourself and quicker? It just doesn’t make sense.. I had 6 credit cards with high and low balances and your focusing too much on interest rates, your losing money on every card regardless of the rate..The object to paying off small ones is to gain momentum and feel like your winning when paying off debt. It’s also emotional more than just looking at finance charge.
You have $3,000.00 dollars towards each month!!! $25,000 divided by 3K a month is 8+ months, whether you pay the big one or small ones, its all money accruing..And with 10 credit cards start getting rid of those babies!!! Trust me it works. Ive paid off alot of money. It would help you getting the smaller ones paid because your overwhelmed with paying these all at different times of the month. Whats your balances on all these? Maybe looking at each bill we can help you… At times a solution is to opt for fast online payday loans and www.ElcLoans.com is one of the best companies for that.
But if you insist on paying the big one first with higher interest rate, start paying it off then, either way your going to pay them off in a decent time!! With as much money as you have to pay these off, it wont take you long at all…..