Two credit cards with 0% rate. Which one to pay off first?

#1 (**permalink**) 10-16-2007, 02:51 PM

I presently have two (2) credit cards that have 0% interest rates. Which one should I pay down first? They both have a balance of $2,700.00. The 0% interest rate on one will be up in January and the other in March of 2008. Should I pay the minimum on one and as much as I can on the other? Any advice would be appreciated. Thanks

#2 (**permalink**) 10-17-2007, 07:16 PM

As long as you pay the minimum, you're good. Paying the minimum on one and paying as much as you can on the other one is a good idea though. Great way to get your score up and establish good credit..

#3 (**permalink**) 10-26-2007, 10:59 AM

Pay off whichever one has the higher interest rate when the 0% APR period is up. Do you have any cards that have a higher rate? I recently wrote a good blog on Balance Transfer Arbitrage. You can actually use 0% APR offers to burn down your credit card debt quicker. Check it out.