I am looking to apply my latest raise towards my credit card debt.* The standard approach is to payoff the minimum on all my cards except one (either the one with the smallest balance or the highest interest rate) and put my extra money towards that debt.* But I was thinking that if I applied my raise to all of my cards in proportion to their balances, I could reduce all their balances simultaneously.* This second approach seems to have the added benefit of reducing the usage on each individual card in addition to reducing my overall usage.* Assuming, I can stick with it, is this a better approach to rebuilding my credit quicker?
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