Question

When paying off credit card debt, it is best to pay off __ cards first?

Answer 1

high balance, high interest
low balance, high interest
low balance, low interest
high balance, low interest

Answer 2

If you had four credit cards, described by these four possibilities, which one would YOU pay off first, and why?

Answer 3

high and high

Answer 4

@mathmale

Answer 5

Space.
If you starting paying off the High balance cards, they would take a lot longer to pay off than the low balance cards, yes?

So while you're paying off your high balance card, you're still paying all of that high interest in the mean time.

What if you were able to get rid of high interest rates really quickly?
That would lighten your load considerably wouldn't it?

You're on the right track with `high interest`,
you want to get rid of that interest quickly.

But think about what type of balance will allow you to get rid of it quickly.

Answer 6

low balance, high interest. ?

Answer 7

Yay good job \c:/

So by paying off cards quickly, you completely erase that high interest rate.