Credit card pay off
Terry, I got $5000 to use for paying down my credit card debt. My discover is maxed at over $13000, I HAVE several other smaller credit card debts that I could pay off with that $5000. Which should I put that money to? Thank you
Terry Says
Pay down the card with the highest interest rate first. If they are all about the same, pay off those smaller cards and take them out of your wallet!
then attack the big balance. Here’s a secret:
DOUBLE the CURRENT MINIMUM PAYMENT, and write that amount down. Keep paying that same amount every month and don’t charge another penny. The balance will be paid off in less than three years!
it will save you a fortune in interest!
