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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Aug 06, 2013 | How do I get my free credit report?
Many consumers aren't aware that, by law, Americans are entitled to one free credit report per year. And for those that are aware of this important fact of finance, fewer still know where they can actually, ya know, get their free credit report. As a... -
Jul 31, 2013 | Wait at least 6 months between credit card applications
A common question I receive from Creditnet readers is how long we should wait between credit card applications. Once consumers find out that opening and using a credit card responsibly can help them build credit, many... -
Jun 27, 2013 | Identity Theft Tips: Did you know you could stop pre-approved credit card offers?
Editor's Note: This is the second in a series of tips to help Creditnet readers protect themselves against identity theft. Check out last week's article on... -
Jun 20, 2013 | Identity Theft Tips: Mix up your passwords and make them strong
Editor's Note: This is the second in a series of tips to help Creditnet readers protect themselves against identity theft. Check out last week's article on items you should remove from your... -
Jun 12, 2013 | Identity Theft Tips: Remove these items from your wallet today
Editor's Note: Beginning today, Creditnet.com is starting a new series on how to prevent identity theft. Over the next several weeks, we'll bring you tips on how to prevent ID theft before it happens... -
May 29, 2013 | College Credit Card Tips for the Class of 2013
Is any event in life more bittersweet than graduating from college? It's a huge, coming-of-age moment that solidifies four (plus) years of studying, partying and ultimately (and hopefully) finding ourselves, not to mention thousands of... -
May 16, 2013 | Start Your 401K Today!
I'm ashamed to admit that it took me more than a full year after I was eligible before starting my company's matching 401K plan. I really don't have a good excuse for procrastinating, but let's just say this personal finance misstep was well before I took over ...... -
May 10, 2013 | Take a Break From Your Credit Score (Really!)
If there's one thing I've learned in my time as the Editor of Creditnet, it's that your credit score wasn't built in a day, nor will it jump 100 points in the matter of moments. Even if you start making all the right moves, it... -
May 03, 2013 | Don't bail on your credit card after the bonus
I've heard from a number of different consumers that they don't like to stick with a credit card for long once they receive the initial sign-up bonus offered by their card. Be it cash back or miles, a lot of consumers don't... -
Apr 25, 2013 | Leave the tip in cash if you can
I recently read this book called Waiter Rant about a full-time waiter and part-time blogger in NYC. The book hit pretty close to home since I spent what little free time I had available in high school and college working in a restaurant. Granted, I was a cook/manager...
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