Well it's a blog about a book club on personal finance, but it talks about the best ways to pay down credit card debt.
Three choices.
1. Pay off the card with the highest interest rate - to pay the least in interest - before going to the next one.
2. Pay off the card with the lowest balance, and then when it is paid, shift the payment money to the next card - pay off stuff faster.
3. Pay off the card with the highest balance first - one maxed out card with a few others with small balances hurts your credit more.
Or combine strategies.
Read the pros and cons in the full article - click here.
Monday, October 5, 2009
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment