When it comes to paying off your credit cards, there are two methods that are widely recommended. One way is to pay off your credit cards in order from highest interest rate to lowest interest rate. The other way is to start with the lowest balance then move to the biggest balance. What’s the difference between the two and which one is best? Read Two Credit Card Payback Methods That Work. Hint: Ultimately, paying off your credit cards is most important.
The Credit Card Payoff Debate: Highest Interest Rate vs. Lowest Balance
Written by Tim Peak on April 24, 2011.
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