I get some credit cards I would like to pay off as soon as possible. I read that you should pay the card with the higher interest rate first and then pay the minimum payment on the other cards. I like the idea of consolidating all your credit cards and make one payment , as this would make my life easier. Which option would be better, pay off each credit card or consolidate?

Consolidation never makes sense, instead look at snowballing the debt.

http://www.geocities.com/snidecl/debtsnowball.html

check out dave ramsey's total money makeover.

Contrary to conventional thinking don't pay off the large amounts even if interest is higher, payoff small amounts first, then next, piling on the amount from the previous items paid off on to the next one up.

best thing is to eliminate spending and using credit.
look at the baby steps.



Get "current with debts"

$1,000 to start an Emergency Fund
Pay off all debt using the Debt Snowball
3 to 6 months of expenses in savings
Invest 15% of household income into Roth IRAs and pre-tax retirement
College funding for children
Pay off home early
Build wealth and give!
Invest in mutual funds and real estate


Don't pay some jackazz to help you "consolidate" debt. Statistics have shown "debt consolidation" leads to deeper debt.

I'm 49 years old and have been playing the credit card shuffle for a long time. I am midway through my debt snowball. I refuse to ever use credit again after having been a credit junkie for 30 years.
We've paid off nearly 50,000 in the last three years. I still have about 20000 in unsecured credit to pay off then on to the mortgage.

Check out FPU (financial peace university), and daveramsey.com I borrowed the DVD's from our church and bought the book on Amazon for about $15