5 cards, pay min + fin chg on each each month. Continue that or apply amt of all fin chgs to one card?

I've got 33k in credit card debt spread out over five cards of varying interest rates with balances between 4500 and 11,500. Each month I pay the minimum plus the finance charge on each card. Am I better off continuing this practice or taking the accumulated finance charge of all cards and applying it to one card to pay that one down faster?

My concern is that while paying down one card the others will accumulate at an insane rate and leave me worse off in the long run.

Best thing to do is to pay the minimum on the 4 with the lowest interest rates and pay all you possibly can on the one with the highest interest rate.

Once it's paid off, add the payment of that card to the one with the next highest rate and pay it aggressively as well.

Continue this until all the cards are paid off.

call a debt consolidator...they will remove all finance charges and all interest included....it's a risky move but you seem to be way in over your head.

concentrate on paying anything above the min on one card at a time - start with the smallest balance or highest int rate-your choice

http://clarkhoward.com/

contact clark howard

paying the minimum will take 50+ years. consolidate.
or do what i did until i could consolidate, transfer each balance to a new card, with no transfer fee, or a small one, that has an introductory 0% finance charge for 6-12 months. try and transfer all of it to as few cards as possible. when the introductory period is over, do it again. this way you don't accrue any extra finance charges. see a debt counselor, it's your only chance

Put the extra money on the highest interest rate card, while making the minimum on the rest. When the highest rate card is paid, move to the next till they are all paid off.

You might want to squeeze your budget a little harder and throw some more money at those cards to get them paid off sooner.

The minimum payment should cover interest plus a small percent of the balance, like 2%. So the other cards won't grow out of control on you.