Is it best to pay off debt with the highest interest rate or the highest balance? I am trying so hard to pull my credit score up and I need to make the best decisions starting now... I just came into 2000 and Im wondering how to use it smartly as possible.
Equifax- 540 
@Anonymous wrote:It's important to pay everything on time each month and if you have extra money to put on something (which it sounds like you may) then all financial advice I'd ever read states that putting it down on the highest interest rate is smartest. You're accruing more debt on the high interest debts faster than the lower interest debts.
It's also very important to keep your utilization low.
You should list out the debts you have (excluding account numbers and other personal info) for the gurus to review so that you can get the best advice possible.
Congrats on the extra 2k and good luck!!!
Good idea up there! Paying the high int cards is my best advice too. If you take care of the balances, the FICO's will take care of themselves.
@Anonymous wrote:
Thank you... That sounds like a plan! Where can I go to get advice from the guru's?
You're in the right place!! We won't steer you wrong! We have collectively all been through it. Just post your questions & READ!!!! At the top of this forum...read the "what steps do I take ..." thread.
Each year, by law, everyone is entitled to a free report from the big 3. That link is in my sig block. Go there...get them & print them up. You'll know exactly what you're starting with. Don't buy the scores, just get the reports. Come back with questions. It's best to not try & take on the baddies in one big group. Splitting things up keeps it from getting overwhelming.
Best advice...NEVER EVER talk to a CA on the phone!!! Also in my sig is the link to the abbreviations...save it in your favorite list...it's gonna come in handy here!!
Mo