Terra used to let me do it, but then it got busted with an update, and after I deleted it and reinstalled it, the option was gone.
The Offline Reader app is nice, just doesn't have the different folder option.

Instapaper does that.

I need app that's free, and don't you have to pay for Instapaper? If I had the money, it wouldn't be an issue.

I use pocket. It doesn't use folders, but you can tag items and show just the items with a given tag

Ill give that a try . Tagging isn't th same as folders, but should do the same thing I'm looking for.

I use Pocket + Evernote to save webpages. Pocket allows me to get a clean version of the webpage (no ads, banners and such) and Evernote provides me the organization capabilities (tags and notebooks). I could save the webpage directly on Evernote but it would come with all the adds so I use Pocket as filter.