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Shopping & Gifts

Which debt (overdraft, credit card, or credit line) should I pay off first?

Date_a_Snob
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Which debt (overdraft, credit card, or credit line) should I pay off first?
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  • Fireguy17
    Fireguy17 Follow
    Master Age: 61
    1 y

    the one with the highest interest.
    Once that card is paid off take the amount of money that you were paying the first card off and add that to the next highest card and so on.
    Once you are free and clear never charge more than you can afford to pay off each month and you will stay out of financial trouble and that bargain item won't have cost you 10 times more than it was worth.

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  • BTigers96
    BTigers96 Follow
    Xper 5 Age: 51 , mho 37%
    1 y

    Overdraft on your bank account.

    Otherwise, the debt with the highest interest rate is typically the way to go. Unless your credit line has a looming balloon payment, in that case you might want to take a look at how soon it comes up. Good luck!

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  • Dinklex3
    Dinklex3 Follow
    Guru Age: 32 , mho 36%
    1 y

    Overdraft? Like from your bank?

    If so, pay that

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  • exitseven
    exitseven Follow
    Master Age: 55
    1 y
    822 opinions shared on Shopping & Gifts topic.

    Probably the overdraft. The interest rate is larger and the overdraft probably effects your credit rating more

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  • RedInnocent69
    RedInnocent69 Follow
    Guru Age: 50
    1 y

    Generally highest interest first. Unless you can make room on a lower interest one and consolidate, like transfer a credit card to a credit line.

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  • Anonymous
    Anonymous
    (25-29)
    1 y

    Highest interest then snowball until debt is cleared then roll that into savings

    Personally the only good bit of Dave Ramsey advice

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  • nawtee_me
    nawtee_me Follow
    Guru Age: 68
    1 y

    The one that has the biggest interest rate to save you money….!

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  • Bklynbadboy12
    Bklynbadboy12 Follow
    Guru Age: 38
    1 y

    Pay the one that has the highest interest rate that way you save on the interest

    0
    0 Reply
  • elizamichale1
    elizamichale1 Follow
    Master Age: 31
    1 y

    The one which is costing u more

    0
    0 Reply
  • noohair
    noohair Follow
    Guru Age: 71
    1 y

    The one with the highest interest rate.

    0
    0 Reply
  • In_Trance
    In_Trance Follow
    Master Age: 27
    1 y

    The highest interest rate

    0
    0 Reply
  • MrGSpotHer
    MrGSpotHer Follow
    Xper 6 Age: 42
    1 y

    What ever will cost you the most

    0
    0 Reply
  • Jerre
    Jerre Follow
    Master Age: 55
    1 y

    Whichever one has the highest interest

    0
    0 Reply
  • DJB72
    DJB72 Follow
    Guru Age: 54
    1 y

    Credit card

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