The best strategy to pay off credit cards?

Hi!
I just paid off two credit cards, thereby increasing my utilization score. As I continue to make payments to be debt free by the end of 2013 (yay!), I got to thinking. Is it better to make, say, a $ 100 additional payment on five credit cards a month, or should I whack one card with a $ 500 payment? Either way reduces my utilization, in theory, it’s just a matter of which cards charge the most interest that would determine the largest portion of the “pie”. Am I correct in thinking that either method would decrease my utilization, or is there a factor I’m not considering?

Register New Account
Reset Password