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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May 04, 2008 | Emergency funds - A personal cure for the credit crunch
Do not rely on credit as an emergency fund. Everyone's personal financial plan should include a goal of having at least six months' worth of living expenses saved in a liquid emergency fund such as an online... -
Apr 27, 2008 | There is an error on my credit report - Where do I begin?
Mistakes happen all the time, and it is more important than ever to make sure there are no errors on your credit report. To ensure an error gets corrected as soon as possible, be prepared to write a letter... -
Apr 20, 2008 | Have trouble making your payments on time?
The best way to prove you are a reliable credit risk is to always make your payments on time. If you find yourself forgetting when your credit card payments are due, take a few moments to set up direct debits for all of your cards...
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