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This might be a silly question but which CC account would give me the most bump if any to pay down first? Pay a card from 8% to $0 or one from 28% to 8%? or is itcpretty much a wash at that point?
I think it would depend on the balances and the impact on aggregate utilization.
But my guess is you'd get the most impact from 28 percent to 8.
I would calculate the impact of this move on your overall card utilization to see if it crosses any of the threshold of 9%, 29%, etc.
I would always pay down the highest utilization if it drops it below the standard levels. 9,29,49,69,89
Of course interest rates matter if dramatically different.
GL!
DON'T WORK FOR CREDIT CARDS ... MAKE CREDIT CARDS WORK FOR YOU!
Is the $$$ amount is the same, pay the one that has a higher interest rate
@pkenn wrote:This might be a silly question but which CC account would give me the most bump if any to pay down first? Pay a card from 8% to $0 or one from 28% to 8%? or is itcpretty much a wash at that point?
I would need to know
(a) what the balances and limits are on all your cards and
(b) which scores you're trying to bump.