What would you do? I have $2,500 to pay off some debt I have an EF of $1,000 Card 1-$4,862 11.74% $135 min Card 2-$4,489 14.4% $90 min Both are essentially maxed out.

Question

What would you do?  I have $2, 500 to pay off some debt I have an EF of $1, 000 Card 1-$4, 862 11.What would you do? I have $2, 500 to pay off some debt I have an EF of $1, 000 Card 1-$4, 862 11. 74% $135 min Card 2-$4, 489 14. 4% $90 min Both are essentially maxed out. I was thinking of knocking down the higher interest one with the full $2, 500 but then I was also thinking that putting $1, 500 towards higher interest and $1, 000 towards the other one to get the Usage percentage down would be good too.  

Answer 1

I'd put some money towards each to get them away from being maxed out. My bank told me that once you max out a card and start accruing interest higher than that amount, it has a huge impact on your credit score.  

Answer 2

I would go with all on the highest interest rate.  

Answer 3

You can sometimes negotiate with the CC card company to lower your rate, especially if you put a big payment on there. All it takes is calling and asking. It’s worth a shot anyway.  

Answer 4

Higher interest first!  

Answer 5

Higher interest. Usage percentage calculates percent used across the board, so splitting won’t make a difference- from my understanding anyway.