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How would paying off the lowest outstanding balance credit card first be beneficial over paying off the one with the highest interest rate?

Respuesta :

kheembum
Actually paying the one with the highest interest rate is logically the right thing to do, because you can shorten the amount that you spent on interest or charges by month, but paying off the lowest outstanding balance credit card first makes sense if you could transfer the interest balance which is the highest into a low or maybe no interest rate that is being offered to another card, if and only if you are so sure that you will pay the remaining balance or on before its due. 

This isn't logically true. It should be noted that paying the one with the highest Interest rate is the logical thing to do.

  • It should be noted that paying off the lowest outstanding balance credit card first cannot be beneficial over paying off the one with the highest interest rate.

  • It's important to pay the one that has the highest interest rate. This is because it'll help in shortening the amount that the person will pay as interest.

In conclusion, it's important to pay the one with the highest Interest rate.

Learn more about interest on:

https://brainly.com/question/6

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