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Bailey5108

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Getting money soon.Do I pay off all credit,certain cards or just pay down balances.

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Pay off the smallest balance first and then on to the next one.

Google  7 Baby Steps  or  Dave Ramsey and start Reading.

Good Luck.

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All things being equal, from a credit rating standpoint I would say pay off all credit card balances.  Historically that's what has worked best for me, although an argument can be made keeping a small balance might produce some benefit.  From a financial planning standpoint, pay off the cards with the highest interest rate first.  Using free cash flow to pay off 14% debt is the same as investing the money at 14% but you don't pay taxes on the benefit.

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