Credit Card Forums

[jnjblogger]

If you are carrying a lot of credit card debt, do you have a plan to pay off your balances? Some people say to always pay off the card with the highest interest rate first. While this makes sense, other people say to pay off the card with the smallest balance first, as this will give you an emotional boost. If you are working to pay down your debt, are you using either of these methods?

[CowAdmin]

I would say to pay off the card with the highest interest rate first, emotions aside. It is all about the bottom line after all and your goal is to pay off the debt amount as soon as possible so most definitely paying off the card with the highest interest rate should be the main priority.