Credit Card Debt Reduction

[cdub69]

I have four credit cards close to their balances and they are lowering my credit score.Does anyone know if their is a site to show how much I should pay on each card to lower the utilization and increase my score?

[RHAL]

I am in no way a guru, but from what I have read on here every card should be below 10% util. You should only carry balances on no more than two at any given time and again not more than 10%.

[MarineVietVet]

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@cdub69 wrote:

I have four credit cards close to their balances and they are lowering my credit score.Does anyone know if their is a site to show how much I should pay on each card to lower the utilization and increase my score?

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As equally important (if not more so) as raising your score is to get those balances down so that you stop paying interest. Unless you are thinkng of applying for new credit a credit score is secondary to saving money IMO. How much are the balances and credit limits on each card?

From a BK years ago to:
EX - 9/09 pulled by lender 802, EQ - 10/10-813, TU - 10/10-774

"Some people spend an entire lifetime wondering if they've made a difference. The Marines don't have that problem".

[Anonymous]

When paying off the balances you want to proportionately pay more on the card with the highest interest rate and less (but at the very least the minimum payment) on the cards with the lowest interest rate.  You never quite realize until you have these cards paid off just how much the vig cost you vis-a-vis the nut.

[marty56]

The best way to get out of CC debt is to use the debt snowball mehtod where you make minimum payments on all be the account with the smallest balance and on that account pay as much extra as you can until it is PIF.  Then attack the next smallest balance and so on till debt free.