Consumers are often confused when they have lot to pay and have several cards to take care. You’ll get a variety of opinions depending on which debt guru you talk to. Each one has its own merits and demerits.

Paying off the card with the smallest balance:
This can psychologically boost to knock-out at least one card and offers victory that could help you motivate to pay off the debt on other cards. But if other debts are mounting at higher rates, one would wind up paying more in total debt.

Paying off the highest-rate balance first:
This can be the most recommended plan, since you retire the costliest accounts first. But, if this takes you longer to achieve your first paid-off account, then it may not be the most helpful, especially for your credit score.

Paying off the balance that’s closest to its limit:
If one or more of your cards are maxed out, then this becomes an excuse for your creditors to raise your interest rates-both on the affected accounts and on any others you might have that have a universal default penalty. Paying down these high-balance debts can help your credit score and ultimately contain your total interest costs.

Paying off through Debt Settlement Companies:
If you have difficulties in choosing the above methods you can contact a professional Debt settlement company such as www.debtfreeafterall.com and they will be able to help you accomplish a debt free life.