Credit card payment advice

in Credit Cards
2 replies 519 views
I’ve have £400 I can use to reduce my credit card bills.
I have 2 credit cards.

My first card currently has a balance of £1850 (£3000 limit). The interest is high at 40%.

The second card has a balance of £1250 (this is also the limit). The interest is less than the other card at 30%.

Should I pay the £400 onto the first card to bring the high balance/interest payments down?
Or onto the second card to get it down from its limit? (As its currently maxed out and I know it doesn’t look good on my credit score)


  • eskbankereskbanker Forumite
    20.4K Posts
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Re maxing out, it's generally the overall debt (across all cards) versus total available credit that's measured, rather than individual cards, so put the money to the higher interest one, assuming you have enough to keep paying minimum repayments to both (and preferably slightly more than minimum).
  • wayne617wayne617 Forumite
    10 Posts
    I do overpay the minimum on both as it happens.
    Thank you for you’re reply.
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