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Hi, question on best method to pay off my balances.
Is it best to pay off the smaller balances first, or to pay down a bigger balance that has a bigger limit? This is talking BEFORE the actual due date. Just because I want to make payments and bring balances down in general.
For example, a few CL's of $250 each with small balances of $30 to $60
Or a larger balance of around $320 on a $500 CL?
Not worried about interest, just asking in general, for reporting purposes and to make sure I do the right thing. Thanks!
@new_earth wrote:Hi, question on best method to pay off my balances.
Is it best to pay off the smaller balances first, or to pay down a bigger balance that has a bigger limit? This is talking BEFORE the actual due date. Just because I want to make payments and bring balances down in general.
For example, a few CL's of $250 each with small balances of $30 to $60
Or a larger balance of around $320 on a $500 CL?
Not worried about interest, just asking in general, for reporting purposes and to make sure I do the right thing. Thanks!
Pay down the higher UTL card first for scoring purposes as it looks close to max'ed out and has a negative impact
ok, thank you!
I figured out a way to get the store cards down to zero and I believe my entire balance on Credit One also down to zero before all statements cut. So the only thing left with a balance will be DCU, which will be less than 50% in itself but across all my CC's util will still be very low. I am basically in the garden anyway other than an app for Walmart next month so I don't think I'm gonna need super max score. I just don't want to mess up what I have.
I was sitting here thinking about it all and couldn't stand the thought of keeping up with that many cards with balances. I am stil new at this and don't want to get in over my head. I was starting to get anxiety. Wow, I feel so much better now! Everything paid in full except 2 CC's, one which will be paid before statement cuts.