What’s the easiest method of paying down a credit card?

Credit card debt can feel extremely overwhelming at times. Paying down your credit card eliminates the monthly interest charges. As well, paying down your cards means that you have more possible credit to use.

Now, let’s look at the easiest method in paying down a credit card…

The truth is that there is no one way.

You can choose a few paths to take. You might want to consider:

  1. Remaining balance
  2. Interest rates (APR)
  3. Most used

We recommend focusing on the highest APR credit card that you own. These will cause you to pay the most interest over time. That money saved can go into lowering your debt and monthly payments even further.

If you have a few cards with the same, or similar APR, focus on whichever has the highest balance. This will change over time, of course. But you should always pay down the highest interest rate credit card and then pay down the largest balance.