Snowballing advice

Cat4321

Thank you I’ll have a look at this. Any thoughts on the cards that are nearly maxed out? Should I pay off those a bit first then move to others? Thanks

monetxchange

I can’t see any benefit on paying off those that are nearly maxed out unless you’ve got a danger of them going over the limit, which you won’t if you pay the minimum every month (or say £1 over just to be safe). Credit utilisation isn’t how close you are to the limit on one card, it’s the TOTAL debt you’ve used over all cards.

Look at the links that have been posted. They’ll help you decide. The quicker you start clearing the debt via the snowball the quicker your total debt is reduced. There’s no way around it.

Cat4321

Thank you I’ll have a look and I’ll pay off the smallest debts first to help with motivation, thanks for your advice