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Where to payoff with 20K?
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tldr;

Hi everyone,

I recently cashed out my crypto worth 30K. Below is what I owe as a 31 year old:

CitiBank Credit Card - $12.9K balance ($420 a month, second worst one) - Was going to put 10K on this to pay.

Citibank Personal Loan - $2300 remaining ($60 a month - really not my main concern compared to others)

BestEgg 18K Personal Loan - $580 a month (This one is generating a lot of issues) - Was going to pay this off now with 18.5K since monthly rate is so high

Chase Card - 11K (120 a month because card is new, but each month is getting more expensive with interest, will match Citi monthly payment in 6 months) - Was going to dump 1500 remaining to pay this then work at this one

BestEgg 5.5K Remaining Loan - $120 a month payment (Not a huge concern compared to others)

SoFi Personal 5.8K remaining Loan - $5,700 remaining $112 a month payment.

Barclay Card - $7.2K Balance - About $230 monthly 

I get a 7K yearly end of year bonus at work. I made a payment of 10K to knock off my citicard debt. Should I pay off the Bestegg loan for 18K and knock 1500 off the chase card or clear off my credit cards and leave the loan in place?

I'm not worried about the 2300, 5500 or other 6K loan it's mainly the credit cards and 18K loan that are eating my monthly cash flow. I make 4700 a month after taxes on my 90K salary.

I was gonna dump 18K to pay off the loan I got during college, better idea then clearing the cards?

This will free up like 600 a month and I can start to target debt by making larger monthly payments. What do you think

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2 years ago