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Is it better to pay off a low balance low APR card completely or part of a high balance high APR card?

Answer

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Wiki User
02/12/2007

It depends on the size of the outstanding balance on each card and what the interest rate is. There's no hard and fast rule, you have to do some math to figure out what each approach will cost based on your particular circumstances. I agree that you need to work out the math, but as general rule, the better course will be to pay off the higher interest rate loan as fast as possible.