I am taking out a loan to considate my credit cards. Is it better to pay off those with a higher interest rate first? If so, where does the money go first, to the higher or lowest rates. (for example, if I only pay a portion of a bill). How will this affect my monthly amount due? I'm thinking of paying off the ones with the highest payment (for example, my car loan payment is $250/mo., I owe $1800 on it.). Paying this off completely now would get rid of a big chunk of the outgoing money. I'm just confused!
2007-07-11
08:10:02
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8 answers
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asked by
tuckersmom
1
in
Credit