What's the best way to pay off multiple credit card debts?

If for example, a person has 2 fully maxed out credit cards, and 1 maxed out line of credit, which is the best strategy to take? Simply trying to pay off just 1 is not possible because minimum payments must be made every month. What%26#039;s the solution?

What%26#039;s the best way to pay off multiple credit card debts?

Pay off the one with the highest interest first, making just the minimums on the others. Once the first is paid off, take that payment and add it to the minimum of the second and so on. If possible, try to refinance the debt into a single lower-interest loan...and stop using the credit cards.

What%26#039;s the best way to pay off multiple credit card debts?

pay the minimum on each card, but try and pay more on just one specific card, you want to pay off each card at a time till they are all paid off. In addition in the future instead of maxining out your credit cards and getting in a bind over paying them off over time, try to save up money to be able to afford the items instead of living off of credit alone.

What%26#039;s the best way to pay off multiple credit card debts?

Make an appointment with your bank consultant and ask for a %26quot;debt consolidation%26quot; to pay all your credit cards. That way, you will have only one payment to make (each month or each two weeks or each week: depending on your financing situation). Most of the time, interests are lower on a bank loann than on credit cards.

I suggested that solution to one of my friends a few years ago and she was less stressed out and could breath between the payments. Now, her financial profile is very good.

Good luck! Jo

What%26#039;s the best way to pay off multiple credit card debts?

First, get a new card with 0% interest on transfers (they send these offers in the mail all the time or get it online), then transfer all cards to one and pay the most you can until the 0% runs out (usually 1 year), then repeat the above process.

If you run into the same banks, say trying to transfer 1 bank of america visa to a bank of america mastercard with 0%, you%26#039;ll need to get a check from your 0% card and payoff the balance on the other bank of america card. Hope this helps. This is what we did and are now debt free!!

What%26#039;s the best way to pay off multiple credit card debts?

consolidate google it