Reader Questions

Should I Just Not Pay My Highest Credit Card Balances?

Written by Consumer

I would like to know if anyone came up with this idea…instead of relying on the credit debt relief.. i had an idea of not paying the highest credit cards balance until i start with the small owes for example all these credit cards are like 25 or 30 a month but try with 9 of them and it adds up along with 2 more credit cards that ask for 120 and 113 a month. i hardly have anything left when im done paying them. so i figure all those 25s 30s and others bundle it and pay off starting the smallest like 500 left then go on to the 700’s and so forth. they may ask harrass for not paying this month and so but the apr is already really high so does it matter? have anyone ever done this before? did it work?

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Consumer

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13 Comments

  • Never heard of it but if you pay the smaller ones and ignore the larger ones, the larger ones will collect fees and penalties and your payment will be even higher. Does not seem like a good idea to me. Ask your credit card company to lower your rate and work out a plan with you. Some will, some won’t. I lost my job 2 yrs ago. I wrote the credit card co’s I could not make the payments and they sent me back a letter stating they would work a plan with me and sent a phone number to call them. Something to think about. In my case, there was no money for any payments. Living on Social Secuity only, after losing job!

    • i have called two of them larger debt ones. they said they dont have anything special out and to call next month…i told them of my hardship, still they refused and apologized over the phone they cant offer anything. they will only make a deal through the debt consolidation companies or lawyers. now im kinda wishing i had a relative who is a lawyer so they can bluff them for no expenses.

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