How to best use "extra funds" to pay down debt
These "systems" also damage
These "systems" also damage your credit severely. Let one go into collections which is required to settle on account and you will find that other creditors will reduce your credit limit to what you owe and close your accounts.
My suggestion is to pay your high interest rate cards down or off. And dont use the card again.
Will paying the highest
Will paying the highest interest rate card off help my credit, or hurt it if I never use the card again. Should I close the card or just let it sit empty?
Sorry I am confused, SoapLady
Sorry I am confused, SoapLady
Why do the systems damage credit, I was assuming the snowball system was just a process that could help me get to $0 on my CC balances. Do you mean the method of paying one card off at a time is damaging to credit scores?