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Minimum payment
Nerrad1244
Posts: 1 Newbie
in Credit cards
Hi
I have 3 credit cards and I am paying the minimum payment on all 3 ,
I can now pay an extra £450 per month
is it best to pay £150 off all 3 or £450 off
1
thanks
I have 3 credit cards and I am paying the minimum payment on all 3 ,
I can now pay an extra £450 per month
is it best to pay £150 off all 3 or £450 off
1
thanks
0
Comments
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The one with highest rate.1
-
Use the whole £450 towards the card charging you the highest interest rate, whilst continuing to pay the minimum on the others.
If all three cards are charging the same rate then it doesn't really mater (from an interest point of view) how you split the payments. For example, if one has a low balance you could try and pay this off completely, giving you a feeling of satisfaction.0
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