Which credit cards to pay off?

[cashie]

Ok......I need some help on what credit cards to pay off.  I have a total of 13 credit cards with a total of almost 14,000.00.  I have some money coming my way of about  $10,000.00. Most of the cards are maxed to there limit. I was in college and loved to spend and shop. Do I pay the small ones off first and then the bigger amounts later?  My score is around 580TU, and was wondering how would my score jump?  If anybody can help me it would be great.

[Anonymous]

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cashie wrote:

Ok......I need some help on what credit cards to pay off.  I have a total of 13 credit cards with a total of almost 14,000.00.  I have some money coming my way of about  $10,000.00. Most of the cards are maxed to there limit. I was in college and loved to spend and shop. Do I pay the small ones off first and then the bigger amounts later?  My score is around 580TU, and was wondering how would my score jump?  If anybody can help me it would be great.

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Some suggest paying off smaller balances first.  Gives you a sense of accomplihment to see those 0 balances.  ME?  I just plug the numbers into Microsoft Money and let it tell me what to do.  Unless of course on balances of 200.00 or less.

[Anonymous]

When I was in the hole ($10K) I paid off my cards with the highest APR first.

Saves money in the long run.

[SpecFile]

I'll agree with Creech.  Pay off the highest APRs first.

[Tuscani]

Saving money is more important than FICOs... pay off the card(s) that are costing you the most first.

[Anonymous]

Well, cashie, I think "high APR cards" won.

[cashie]

ok......seen the advice and i found out all the interest rates.  I have a question though about a certain card. I have a credit card that is closed but i'm paying and the balance is $1700.00 but the interest rate is 12%.   Do I pay that one off since it is closed or do I  keep paying on it?  Also how is this account affecting my credit score?