Which card should I clear first?

MissMia60

Should I pay cards with a higher amount of debt with high interest or card with little amount but have even higher interest?

I was focusing on clearing the lower amount.

Do you agree?

[Deleted User]

Always the highest rate.

ZaSa1418

Highest interest first

phillw

Highest first, but if you have a windfall and are currently in a deal then factor in what the rate will be. So if you have a 3% for another year and 0% for another month moving to 40% then I'd pay off the 0%

MinuteNoodles

Two schools of thought.

The most efficient is to put cards in order of their interest rates, pay the minimum on everything but the top one in the list, pile al the spare money you can into the highest APR one until cleared, rinse and repeat.

The second school of thought isn't the most efficient but it can keep people motivated. You do similar but this time ordering them by the amount owed. The thinking behind this being the psychological boost from clearing a card debt can motivate those better who would struggle with what would seem a long time getting nowhere with the first method, most likely giving up.

coachman12

Like most of the other posters, I strongly recommend you concentrate on the highest interest first.
Have you looked at the 4 Banks offering 0% interest free cards for 25-28 months and offloading some of your existing card balances that way ?

MalMonroe

What coachman12 said.