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Posted in Saving Money

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Is there a website that shows you the fastest way to pay your credit cards?

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I found one of those websites (free credit report and the like) that would tell you the fastest way to pay your credit card debt. It calculated your savings for you so you'd know which one to pay first.

Example: If I have a $500 card at 30% interest and a $300 card at 40% interest would I be best off tackling the $300 or $500 card first? Anyone know where I can find this - preferably for free?

Asked by McApril 4 months ago Flag this Question

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well it all depends on you you will save more by paying off the highest balance first but some people need to see results to keep them motivated so they pay off the smaller ones first at 300 and 500 the interest would only be a few dollars difference 500 at 30% is like 12 dollars interest a month and 300 at 40% is 10 so if you took 2 months to pay off 500 you would pay 16.55 in interest and on the 300 it would be 15 so you are only saving a dollar if you pay of the 300 first the longer you drag out the payments the more it will add up and i hope you dont have interest rates that high

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garystidham 4 months ago

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