Debt Repayment Plan
Updated 2026-04-09 with April 9 actuals
Credit Card Debt (Actual as of April 9, 2026)
| Card | Balance | APR | Monthly Interest |
|---|---|---|---|
| Amazon | ~$4,678 | 29.49% | ~$116 |
| Chase | $350 | 23.49% | ~$7 |
| Citi | ~$4,712 | 18.74% | ~$73 |
| Total | ~$9,740 | ~$196/mo |
Chase: balance was $6,974.13; paid $6,623.82 on 2026-04-09 from Capital One Savings → $350.31 remaining. Nearly paid off. Total CC debt dropped from ~$16,439 to ~$9,740.
The $10,700 lump sum to Chase landed in March, dropping it from $17,998. Total CC debt is down from $27,352 to ~$16,364.
Strategy (Revised)
$10,000 lump sum → ChaseDone ($10,700 applied in March)- Avalanche the rest: Amazon → Chase → Citi
- Split payments around paychecks to maintain cash flow (checking starts each month thin)
Debt-free: June 2026 — one month ahead of the revised plan Estimated total interest remaining: ~$400
What Happened in March
The lump sum landed, but the monthly surplus didn't reach the cards:
- Amazon: only $146 minimum paid (plan called for $3,421)
- Chase: $540 autopay (plan called for $237 minimum — overpaid here)
- Citi: $60 autopay
- Heavy spending month ($13,545): CO trip, elevated dining, education
Month-by-Month Plan (Revised)
Month 1 — April 2026
Amazon payoff — split across two paychecks for cash flow safety.
| Date | Action | Card | Amount |
|---|---|---|---|
| 04/03 | Amazon autopay (minimum) | Amazon | $169 |
| 04/10 | Manual payment after Chris paycheck | Amazon | $2,500 |
| 04/10 | Chase autopay | Chase | $540 |
| 04/13 | Citi autopay | Citi | $60 |
| 04/25 | Final Amazon payment after Chris paycheck | Amazon | ~$2,180 |
| Card | Total Payments | Interest | Balance After |
|---|---|---|---|
| Amazon | ~$4,849 | ~$60 | $0 — PAID OFF |
| Chase | $6,624 (Capital One Savings) + $350 mop-up | ~$7 | $0 — PAID OFF |
| Citi | $60 | ~$73 | ~$4,712 |
Chase is effectively done — the $350 remainder can be cleared with the April 10 paycheck alongside the Amazon payment. Full May surplus redirects to Citi.
Month 2 — May 2026
No more Chase. Full surplus to Citi.
| Card | Payment | Balance After |
|---|---|---|
| Citi (target) | ~$3,600 | ~$1,185 |
Month 3 — June 2026
No SLUH tuition = $3,300 freed up.
| Card | Payment | Balance After |
|---|---|---|
| Citi | ~$1,200 | $0 — ALL CARDS PAID OFF |
Debt-free date moves up to June 2026 — one month earlier than planned.
Rules During Payoff (Apr–Jul 2026)
- No new credit card charges — use debit only (Amazon had $116 in new charges in March — stop this)
- Minimum payments only on cards you're not targeting
- Split large payments around paycheck dates to avoid overdraft
- If you get a windfall (3-paycheck month, tax refund), throw it at the debt
- Stop using the Amazon card entirely — at 29.49% it should never carry a balance
Other Debt
| Debt | Payment | Notes |
|---|---|---|
| MOHELA (student loans) | $146/mo | Continue minimum during CC payoff |
| Nelnet (student loans) | $379/mo | Continue minimum during CC payoff |
| Wells Fargo (auto loan) | $759/mo | Continue minimum during CC payoff |
After Credit Cards Are Paid Off (Aug 2026+)
Cards gone + no more interest charges = ~$4,100/mo available
| Priority | Amount | Purpose |
|---|---|---|
| Emergency fund | $1,500 | Build to 3 months expenses (~$46K) |
| Extra loan paydown | $1,500 | Accelerate student loan payoff |
| Savings / investments | $1,000 | Retirement, college fund |
| Buffer | $100 | Absorbs overages |
Summary
| Original Plan | Mar Revised | Apr 9 Actual | |
|---|---|---|---|
| Lump sum to Chase | $10,000 | $10,700 | $10,700 |
| Capital One → Chase | — | — | $6,624 |
| Months to payoff | 5 (Mar–Jul) | 5 (Apr–Jul) | 4 (Apr–Jun) |
| Total interest (est.) | $955 | ~$1,200 | ~$400 |
| Debt-free date | Jul 2026 | Jul 2026 | Jun 2026 |
The April 9 Capital One payment to Chase — nearly wiping it out — pulls the debt-free date forward by a full month and cuts remaining interest roughly in half.