credit card questions

**morgan320i** · 02-01-2012, 03:31 AM

i am 27 my credit score in all three is 720, i currently have 3 credit cards , i owe 2900$ on bestbuy, 1700 on a regular visa, another visa 900, how should i pay these off, i can afford around 2700$ with my tax return, pay off the highest>? or pay them all off a certain amount, i am looking for the best option that will lower my dept to income and increase my credit score,

thanks
Morgan

**Magic69** · 02-02-2012, 07:43 PM

Personally, I'd pay off (or down) the card with the highest interest rate first. Then work on the card with the next highest interest rate until that one is gone and so on. This is a pretty common technique that many people have used to get out of debt and achieve rockstar credit. 720 scores are really quite good already, but whatever you do to pay down should help give a boost.

Good luck and let us know what you end up doing and how it works out.

**mitchellvii** · 02-10-2012, 07:44 PM

Credit Bureaus like to see you have credit cards but they don't want you to carry more than 30% of your credit limit on each one. If I were you, I would endeavor to pay them each down to get as close to that 30% number as possible. If you cannot get there, consider having your credit limit increased to the point that you are at 30% of the limit. Then, of course, don't spend more than 30%.

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