If the only thing that matters to you when paying off debt is saving dollars and cents, the payment strategy that clearly makes the most financial sense is paying off your balance with the highest interest rate first. So try this method out and start watching your balances shrink!
Start out by doubling your monthly payments on the card with the highest APR while continuing to make the...
This Week's Credit Tip
Recent Credit Tips
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Sep 13, 2012 | Poor Credit Scores Influence More Than Lenders
People with good credit are finding it difficult to get many types of loans these days, especially mortgages. For those with poor or damaged credit, the task is even more daunting. But what about home and auto insurance... -
Aug 23, 2012 | Avoid Credit Card Cancellations Due to Inactivity
If you haven't used one of your credit cards for months or even years, don't be surprised when you receive a letter in the mail notifying you of an account cancellation. Some credit issuers may be kind enough to... -
Aug 01, 2012 | Employer Credit Checks Don't Hurt Credit Scores
It's no secret that some employers will conduct credit checks as part of their hiring process. Whether or not you agree with it, it happens all the time. However, many people seem to believe that this also means... -
Jul 23, 2012 | Experian Only Includes Positive AU Accounts
Adding a child or spouse as an authorized user to one of your credit cards, also known as piggybacking, can help them build credit. Of course, that's as long as you continue to maintain a low credit utilization... -
Apr 23, 2012 | Building Credit with Credit Cards for Bad Credit
Nobody wants to deal with repairing damaged credit, but the truth is many of us are just one serious illness or job loss away from a credit nightmare. And while it can take years of responsible credit management to build... -
Nov 17, 2011 | Register for Small Business Saturday and Get $25 from Amex
Small Business Saturday 2011 is just one week away, so don't forget to register your American Express card this week! Trust us, you don't want to miss out on this opportunity. After registering, all you'll need to do is... -
Nov 13, 2011 | Online Holiday Shopping: 5 Tips for Bargain Hunters
Black Friday ignites a sense of unbridled excitement in many holiday shopaholics. For the rest of us, it's cause for nothing more than another good reason to stay close to home, sit by the fire and enjoy an extra cup of... -
Oct 10, 2011 | How to Deal with New Annual Fees
You're a responsible credit card user. You live within your means and pay your balances in full each month. It's likely you even have several credit cards in your wallet, although the majority of your monthly expenses are charged to the one that... -
Sep 28, 2011 | Paying Taxes on Credit Card Rewards
Expecting a big check this year from your cash back credit card? We hope so. If you are, you may also be wondering if this is considered income and taxable by the IRS. While it's no secret that the IRS wants to categorize as much as possible as income... -
Sep 14, 2011 | Will Breaking a Lease Hurt My Credit?
Breaking your lease may seem like the easiest way out of an apartment you can no longer afford, but it's important to remember that it could do some major damage to your credit scores too. Breaking the lease itself isn't what will actually hurt...
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