Q:

When paying off credit card debt, it is best to pay off _____ cards first. low balance, high interestlow balance, low interesthigh balance, low interesthigh balance, high interest

Accepted Solution

A:
Answer: The answer is option A - low balance, high interest Step-by-step explanation: When paying off credit card debt, it is best to pay off low balance, high interest cards first.  A person should consider these two basic ways to pay off credit cards - First is he should either pay off the credit card with the highest interest rate or secondly he should consider paying for the one with the lowest balance first.  One should have a clear opinion of what he wants. Like whether a person wants to save money on interest or he wants to get rid of entire credit card balances quickly.