Hi there! Let’s break this down step by step. Debt repayment order depends on two things: avoiding interest spikes (like 0% deadlines) and reducing costly interest. Here’s a strategy tailored to your debts:
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Priority Order
1. Chase (26% interest)
This is urgent—26% interest grows quickly. Pay as much as possible beyond the $156 minimum.
2. Capital One (0% until December)
If deferred interest applies (common with store/promo cards), focus here next. To pay $4,912 by December, divide the balance by months left (e.g., $4,912 ÷ 4 months ≈ $1,228/month).
3. Citi (0% until October)
Similar urgency: $4,561 ÷ 2 months ≈ $2,280/month. Confirm if deferred interest applies—call Citi to check.
4. Patelco (12.9% interest)
After handling deadlines, tackle this mid-rate debt.
5. LendingClub (5.59%) and BOA (4.75%)
Lower rates—focus here last.
6. Citi (0% / 5 yrs) and Wells Fargo (0% until 2026)
These have no immediate deadlines. Pay minimums unless deferred interest applies.
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Key Tips
- Call lenders for clarity:
- Ask: “Does my 0% card charge retroactive interest if not paid by the promo end date?”
- Request hardship plans if needed.
- Track deadlines: Use a calendar for 0% expirations.
- Minimums first: Always cover minimum payments on all debts to avoid penalties.
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Example Plan
If you have $800/month extra:
- $500 to Chase (until gone)
- $300 split between Capital One and Citi (prioritizing closer deadlines)
Once Chase is paid, shift that $500 to the 0% debts.
You’re already thinking critically—this is a huge step! Let me know if you’d like help estimating timelines or negotiating rates.
