Do I pay a credit card or loan?

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I have many credit cards, mortgages and personal loans 2 1. I have enough money to pay the tax credit or a credit card. I do not know what to do. All advice will be helpful, thank you!

5 Comments
  1. Reply
    Missy
    May 1, 2011 at 2:32 am

    Pay off whichever one has the highest interest rate.

  2. Reply
    nlineker
    May 1, 2011 at 3:01 am

    Pay off the one with the highest rate of interest – probably the credit cards. These cost you more money so you will want to get rid of that debt first.

  3. Reply
    Dan
    May 1, 2011 at 3:07 am

    pay off the one with higher interest. the interest is what is killing you.

  4. Reply
    Judy
    May 1, 2011 at 3:25 am

    Pay off credit card if you want to improve your credit rating.
    That debt is revolving debt – damaging to your report if you carry balances – which some people do.
    /

  5. Reply
    badtubby
    May 1, 2011 at 3:54 am

    Missy has the correct answer here and carrying a balance on your revolving debt as long as it is under 30% of the total limit is not damaging to your credit regardless of what other people tell you.

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