So in this video, I’m going to give you guys both ways, and that way you can pick which one you like best. Oh- and my credit score when from a 624 to 755 using these same tactics.

1. Avalanche Method with $13,000 in Credit Card Debt
– The basic idea is to pay the credit card with the highest Apr first and then pay the minimum on the other cards. This will save you money on interest.
– The minimum payment is $25 and up. So its 1% of the balance plus the interest. Do the Math.

Credit Card A:
Balance: $6,000
Interest: 22%
Minimum: 1% of balance + Interest and fees:

Credit Card B:
Balance: $3,000
Interest: 30%
Minimum: 1% of balance + Interest and fees:

Credit Card C:
Balance: $4,000
Interest: 25%
Minimum: 1% of balance + Interest and fees:

Plan: Pay the highest interest rate first and the minimum on the rest of the cards.
– I recommend starting with an extra 100-500 on the main card you want to focus on.

2. Avalanche Method
– You pay the card with the lowest balance and you build momentum, which lets you keep paying step by step.

3. Random payments: by far the worst way

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