What to pay off first?

[MarineVietVet]

---

@Creditaddict wrote:

---

---

but isn't it after 75% just always considered 100% util for scoring? you need to get below 50% I think before you start getting better.

---

I've read different opinions about what percentage is considered "maxed out" but I wouldn't think 75% would be looked at such.

But I could be wrong.

From a BK years ago to:
EX - 9/09 pulled by lender 802, EQ - 10/10-813, TU - 10/10-774

"Some people spend an entire lifetime wondering if they've made a difference. The Marines don't have that problem".

[vish1]

+1

[Anonymous]

 I find my score to be affected by the number of

accounts I have balances on.  2 accts seem to be ok but

if I go to 3 my score will go down.  I have 5 open accts.

the utilization on EQ  for high achievers went from 9%

to 7%. 

EX 782

EQ 802 

[Wolf3]

Paying them off in the order of highest interest rate will cost you the least and get you there sooner.    

[trumpet-205]

I disagree with you partially, you need to consider something called minimum interest. This can range from 50 cents to 5 dollars.

Snow ball method is faster because on next month you have less account to worry about. You have more money to focus on higher debt.

[Wolf3]

---

@trumpet-205 wrote:

I disagree with you partially, you need to consider something called minimum interest. This can range from 50 cents to 5 dollars.

Snow ball method is faster because on next month you have less account to worry about. You have more money to focus on higher debt.

---

Whenever minimum interest kicks in on small balances, it will likely become the highest interest rate for that month, and should be paid off.

Another factor which I think is more important, is to pay off the cards you are using first.   If you put new charges on cards that carry a balance, you are paying interest from date of purchase.    If you put charges on a card you PIF each month, then no interest is charged for that purchase.   I think that is more important that interest rate or snowball method.