Being in perpetual credit card debt is really a terrible financial strategy.
Sixty percent of Americans that have credit cards do revolve balances from month to month, and it’s just not a good way to live your financial life. It’s very expensive money to borrow.
So we certainly recommend using balance transfer offers to get out of debt and to try and pay down the highest interest rate card first. That will provide the most relief.
If that’s not possible, pay down the one with the lowest balance and that can be a ‘moral victory’ to just start knocking them off like that.
Ben Woolsey
CreditCards.com
Director of Marketing
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