How to pay down credit cards? Down to which percentages and in which order?

[Anonymous]

Ive paid off a few to zero but after reading should I get them all to 89%, then all to 69% etc. and just keep going in that order?Or do I stick with 1 down to 0?

[K-in-Boston]

Welcome to the forums!  Certainly if you have any over 89%, get them under that mark as soon as possible.  As for the rest, that's a bit of a judgement call.  If some have significantly higher APRs, you may want to address those first to save money on interest.  If you are motivated by having cards paid off, then start with the smallest balances and then once you've freed up those payments, apply them to the next card and then the next until they're paid.  If your immediate goal is to maximize your credit score, then you may want to get "half +1 card" paid to $0, then work on reducing them by percentages.

[Anonymous]

 I already have a few at zero, I think I will have the rest below 89% before the end of the week.

[xaximus]

Your best bet is to pay them off as quickly as possible - start from the highest APR and work your way from there, otherwise, if you have a high balance card, I'd pay that down first. The brackets go 88.9%, 68.9%, 48.9%, 28.9%, 8.9% and then 0%. I would pay down as much as possible each time to get into the next lower bracket.

[Anonymous]

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@K-in-Boston wrote:

Welcome to the forums!  Certainly if you have any over 89%, get them under that mark as soon as possible.  As for the rest, that's a bit of a judgement call.  If some have significantly higher APRs, you may want to address those first to save money on interest.  If you are motivated by having cards paid off, then start with the smallest balances and then once you've freed up those payments, apply them to the next card and then the next until they're paid.  If your immediate goal is to maximize your credit score, then you may want to get "half +1 card" paid to $0, then work on reducing them by percentages.

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+1