Not exact matches
Credit card debt is typically
high interest
debt that needs to be at the top of your priority list to
tackle.
Tackle the
high - interest - rate
debt first, consolidate
debts to a lower - interest rate, or cut up your
credit cards if you can't pay off total balances each month.
Some will argue that
tackling the
highest balances first makes sense, but momentum will play a big role in getting you out of
credit card debt.
There are two common methods for paying off
credit card debt by employing bigger payments: Start with the smallest balance and work up from there — also known as the snowball method — or
tackle the balance with the
highest interest rate and work your way down — AKA, the avalanche method.
A
debt settlement company helped me get rid of $ 16,000 of
higher - interest
credit card debt, but I needed to
tackle the rest on my own.
Tackle these types of
credit cards first, and you can help you
credit score a little bit, as well as get rid of what might be your
highest interest
debt.
One effective approach to
debt reduction is to
tackle first the
credit card balance that boasts the
highest interest rate and then pay off the remaining
cards in descending order, rate-wise.
I put all of my
credit cards in order from lowest to
highest balances, then started
tackling the smallest balance first, paying that off, gaining confidence in my ability to pay down my
debt, and then snowballing that payment into the next — so on so forth.
A 0 % balance transfer offer can be a great way to
tackle high - interest
credit card debt.