It's pretty simple really.... Step 1: Pay minimum payments Step 2: Pay highest interest card Step 3: When only one card is left to pay off, cut up the other ones Step 4: Don't use your card unless you will have the money to pay for it before the interest free period expires. Never have more than one card!

The lowest balance? What I read is you pay of the card with the highest interest FIRST. That way your not paying that high rate for a longer period of time! As you decrease the amount owed your min balance to pay goes down. The trick is do NOT lower you payment. Pay above what is required always at anytime. Do not miss min balance payment on others. To avoid penalties. And call creditcards to get lower interest. Go to a credit council put all into one payment.

John Cummuta Method: Since Card # 2 has the highest balance, it should also have the highest priority. Like in billiards, Card # 1 is a lot like the ball next to a pocket already. Take 10% of your monthly income and add it to whatever minimum, in this case $125.00. Add that amount(10% of monthly income) to $125 after paying Card # 2 off to Card # 3. For the sake of (C)redit (T)o (I)ncome, it is ideal to leave at least two credit cards at %50 balance.

Good stuff for the ones that have no clue. The last step of paying off the cards with the highest interest is to be disregarded if you transfer all your credit debt to 0% creditors. You must first do this first so that 0% is your edge on the credit card companies. If you transfer your debt to a 0% card for one year, the snow ball method is pretty darn good. Most credit card companies would love to take your debt and give you 0% for a year if you switch. You must have discipline for it to work.

i didnt need him to tell me that!!!!!!

While paying off card #1 and 2, you forgot to include the minimum payments for the remaining cards in the overall monthly payment.