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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Jun 03, 2014 | Weekly Tip: Contact your credit card issuer to get a lower interest rate.
Are you sick and tired of having a high interest rate? If you have a good payment history with your credit card issuer, you may just want to call and talk to them. Simply asking for a... -
May 28, 2014 | Weekly Tip: Avoid paying unnecessary ATM fees.
Today consumers are paying billions of dollars a year unnecessarily to banks in the form of ATM fees. If you want to get cash from a bank that is not affiliated with your bank, chances are both banks will charge you a fee that can... -
May 15, 2014 | Weekly Tip: Use a credit card with no foreign transaction fees when traveling overseas.
Traveling internationally is expensive. Travelers have to pay for costly flight tickets and lodging, plus the food, entertainment, and more once they get... -
May 07, 2014 | Weekly Tip: Start saving for retirement early.
Retirement may seem like a lifetime away, so many people assume they can hold off on saving now and make it up later. But it is important to start saving as early as you can. Waiting too long can make it nearly impossible to catch up,... -
Apr 29, 2014 | Weekly Tip: Change your passwords regularly.
It is important to regularly update the passwords on all your accounts. Why? Although it is a hassle, this can prevent hackers from getting into your account. When you have the same password for many years, your password... -
Apr 23, 2014 | Weekly Tip: Always pay at least the minimum on your credit card bill.
Whether you are in debt or not, it is important to at least pay the minimum on your credit card bill each month. By paying late, you can significantly damage your credit score. If you miss a... -
Apr 18, 2014 | Weekly Tip: Sign up for automatic payments.
If you haven’t already, think about signing up for automatic payments. Everything is done online today, and going paperless can be incredibly helpful. For one, you won’t have to remember about making a payment each month. By using... -
Apr 09, 2014 | Weekly Tip: Limit the number of credit cards you have.
Although there is no set number of credit cards you should have at any given time, it is important to keep a limit on the number of credit cards you have open. For one, having too many credit cards can get complicated fast... -
Apr 02, 2014 | Weekly Tip: Notify your card issuer if your name or address changes.
If you are in the process of a big change, it’s very easy to be too caught up to even think about your credit card issuers. However, it is very important to notify them in the event... -
Mar 21, 2014 | Weekly Tip: Have a mixture of different credit types.
In order to have a great credit score, it is important to mix up your credit. While using credit cards will build your credit score, it will only go so far. The 3 major credit bureaus- Experian, Equifax, and TransUnion-...
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