Paying Minimum on 1 CC , Use Extra On Another CC?

I have 2 Credit Cards I'm trying to pay off. The Chase card is interest free until August 2022. The balance is higher than my other CC. Let's say my Chase card is due $100 a month with a $40.00 minimum. My other credit balance balanace is lower, should I pay only the minimum of $40 on my Chase card and use the extra $60 towards the other credit card every month? Or is it wise to pay the exact amount every month on Chase? 

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  • I recommend you check out Its free and you can put in the amounts and compare different payoff plans.

  • What happens in August 2022 when the interest free period ends? Will paying $40 per month allow you to pay the whole balance before then? If not, are you charged exorbitant interests retroactively?

  • If you'd like more opinions, Kyle, I suggest joining the YNAB Debt Bootcamp, which is a free Facebook group.  You can sign up here and will receive a confirmation email with the link shortly. There, you can ask question like this, and get resources on paying down debt—and staying out of debt in the future. 

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