Credit Counseling Organization

There are a few different schools of thought on the best way to handle paying off credit card debt when it’s spread out across multiple cards. You can start with the card with the highest interest rate, or the one with the lowest balance first. Some people prefer to combine all of their debts into one manageable monthly payment by working with a non profit credit card counseling organization.

The reasons for the differing opinions are that credit cards tend to vary quite heavily in their interest rates, and total amount owing. You may have one card where your credit limit is in the thousands, and another where it’s only a few hundred. Some people even have ten or more cards of varying amounts at different interest rates.

When you accrue a large amount of credit card debt across multiple credit cards, it can get quite difficult to pay it off. As the monthly minimum payments continue to increase month after month, the debt becomes less and less manageable.

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