Highest APR or highest Amt owed?

[Anonymous]

I've got a 543 with Equifax & a lot of debt:

MBNA $3901/$4000 CL 19.1%APR

Macys $841/$1200 CL 22.9% APR

Citi $451/$500 CL 0%  APR UNTIL 8/2008

Kay $154/$500 CL 21% APR

Paypal $137/$175 CL 23.25 APR

I've been advised to use the snoball game once I get the UTL down to 50%. However, which one do I start lowering first? The one with the highest balance of APR?

Message Edited by bgonzalez706 on 12-12-2007 10:03 AM

[Boswd]

Ahhhh the old Dave Ramsey  v. Susie Orman case : )  

Both work great,  I prefer the smallest balance due to highest balance due way but other's prefer the higher interest to lower interest ways.   What ever meets your financial situation.  

In your case your highest APR happens to be your lowest balance due so I would start with that one.

[MidnightVoice]

After I had spent 5 minutes answering this one earlier the original got deleted 

Financially, the highest APR first.

For some, the psychological boost from going for the lowest amount first is good.

[Anonymous]

Sorry about deleting it. I'm a bit new to the forum, I'll go with the highest APR.

[MidnightVoice]

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bgonzalez706 wrote:

Sorry about deleting it. I'm a bit new to the forum, I'll go with the highest APR.

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No problem