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Posted in Paying Your Bills
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Question By
BreatheEz

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How to distribute my tax refund
I currently have two cc's at about 88% used up, ($4,300/ [$4,900]; $2,200/ [$2,500]) and a signature loan sitting at $3,900. I estimate my refund to be $1k-$2k. What would be the best way to use the money. All on one balance? Spread out? Basically, what would help my credit score the most. Thanks in advance for the suggestions!

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Top Contributor
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best practice

is to pay off (or down) the one with the highest interest rate.  

For good credit scores you want to keep ALL credit cards below 30% usage at any time.  

Good luck 

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Spending

I'd pay off the highest intrest rate first. Then take that payment and attack the next highest payment.

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