Which debt should I pay down first?

[muscles_glasses]

I recenetly received about $1000 from my tax refund. I have three credit cards and a line of credit. Which debt should I pay off first? The
three credit cards have balances of $1700, $2000 and $2900 the line of credit is around $5000. Should I put it all towards one debt or spread it amongst all four?

[AviatorTom]

In general, it's best to pay down the debt that has the highest interest rate... unless there's a small debt that you can pay in full and still be able to pay something towards other debts. The overall goal is to, over time, reduce the number of debts that you have.

[OddBeMe]

First, cash on hand might be good to hang on to at the moment.

But paying down credit is important. You start by looking at interest rates. How much interest is for each card. Pay down the highest first. It’s probably 29.99%. If you have a card with no interest, leave it! Take that free interest rate as long as you can.

Perhaps another credit card has a no interest offer. That’s money in your bank technically. But be careful not to apply to too many cards, tho.

[BrookeAZ90]

I'd look through the fine print and find the interest rates and pay the one with the highest percentage. If they're all the same, it literally makes no difference.

[Miristheiss]

I've always heard you pay them off smallest to largest.

[Naydyonov]

Calculate by interest rate.
I think line of credit tends to have the highest rate.

[In_Trance]

you've posted this before with different accounts. Stop trolling

[Alex8736]

after 7 years debt ages out so it would be best to pay the most recent before interest kills you

[BoopBoopBeep]

All of it on the highest interest.

[gorydetails]

Pay off the highest interest rate/balance first.