paying off credit cards

lol77

i have 2 credit cards with a large amount owing on each i am now in a position to pay them of is this the best thing to do ..also what is the best card for me to have we only use it for booking holidays .

Tixy

If you are paying interest on them then yes paying them off would be the best thing to do.

With regards to which card to have in the future - if you would always pay off the balance the following month then your interest rate would be irrelevant and you could consider having a card that earns you rewards when you spend (although whether that would be worthwhile will depend on how much you might spend). If you wouldn't pay off the balance every month then the best card would be one with the lowest APR you personally can obtain. Obviously 0% deals are great but aside from that as low as you are able to get.

nancy17

I agree to pay off the one with the highest interest first. As for what card to keep, if you have kids look into Upromise. When you use it on certain products it gives you money back for your child's college.