Just got a life insurance check from my dad (He passed on February 19th) & was planning on paying off my credit cards on the 2 credit cards (2k on each) I have & saving for a trip to Switzerland I have in August otherwise saving the rest.
Is paying them both off all at once a good idea? I'm just so sick of paying interest & just want opinions on if i should or not. Was planning on paying off the one that has more debt then the other one later.
Will it mess up my credit? Or actually help it? I've never paid off a credit card so don't know how that works.
Thanks!
Pay them off. The interest you're paying on them is more than any interest you'd earn from saving the same amount as your debt.
Then it's a matter of preventing further accumulation of CC debt.
19
Wrong_Pen6179Apr 1, 2026
+3
100% this and your credit score will go up since your debt to income ratio will improve once you pay them off. Pay both ASAP! You are probably paying crazy interest rates.
3
Feeling-Response8810Apr 1, 2026
+1
Should i pay them both earlier than the due dates you think? One is due on the 5th then the other on the 17th
1
aerokopfApr 1, 2026
+2
There's no reason to let credit card interest continue to accumulate. If you let the due date hit, the next billing cycle will charge you interest again.
2
Feeling-Response8810Apr 1, 2026
+2
Ok thanks! Wasn't sure how that would work
2
aerokopfApr 1, 2026
+2
Np. Don't let it happen again. I used to be good about paying it off every month, but since I've moved to contract work, I now have a revolving $15k balance. The interest on my card isn't crazy, but it still f****** sucks.
2
Feeling-Response8810Apr 1, 2026
+2
Yeaaa not putting myself in that situation again. Glad your interest isn't to bad though.
2
Feeling-Response8810Apr 1, 2026
+1
thanks! & that's the plan. I plan on using the one I have with rewards at some points, but will pay it all off at the end of the month and not let it rack back up.
1
Moist_Van_LipwigApr 1, 2026
+5
Yep, pay it off. Look at the terms on the CC, but you'll be paying anywhere between 12%-30% APR interest on the balance.
The credit reporting wants *some* balance, and that too only once every few months. So as long as you pay off the card in full each month, but continue to use it, there'll always be *some* balance. Most CCs will let you setup an auto-pay, set it up to pay "statement balance".
5
brycejm1991Apr 1, 2026
+4
I just took a out a loan to consolidate several cards, because the needle was moving no where in terms of paying off the debt. Ill be saving money in the long run with the loan, but its not where I wanted to be atm.
So just pay them off and save yourself the headache
4
jarchackApr 1, 2026
+3
Absolutely do not use a debt consolidation service and there are plenty of subs here that can answer your questions. You can start with r/Frugal or r/personalfinance. Take care of all of your debt before you do anything else.
3
Square_Time4152Apr 1, 2026
+2
sorry to hear about your dad, that’s tough. paying off both cards is probably a good call since it’ll save you on interest and should help your credit in the long run. just make sure you keep an eye on your credit utilization ratio after and you should be good to go.
2
EducationalWin1721Apr 1, 2026
+2
Pay them off! Get that monkey off your back.
2
Wrong_Pen6179Apr 1, 2026
+1
And sorry about your dad
1
Feeling-Response8810Apr 1, 2026
+1
Thanks alot.
1
SheslikeamomApr 1, 2026
+1
Hope you stop overspending after you pay them off.
If you don't correct your behavior then you'll have wasted the life insurance, built up your debt again, and gone further into debt for your trip.
Do you even have an emergency fund?
Can you stop using the cards until they're paid off? Check how long it takes to pay off. Probably 20 years.
1
Feeling-Response8810Apr 1, 2026
+4
Thanks mom.
Yes I have a emergency fund, and that's why i'm trying to pay them off now instead of later. So i can use them only for gas just to keep them active.
4
SheslikeamomApr 1, 2026
+3
That's great to hear. Hope you have a lovely vacation in Switzerland.
3
Feeling-Response8810Apr 1, 2026
+3
Not gonna lie i called you mom before i saw your username LOL that's to funny.
Thank you though!
19 Comments