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Personal Finances / Credit Cards and Consumer Debt


Subject:  Re: does making minimum payments affect... Date:  6/2/2003  2:51 AM
Author:  joelcorley Number:  161172 of 312185


You wrote, You will not get out of debt that have to pay more.

Ummm, I think it likely the OP understands this. They're probably asking because the snowball approach to paying down debt requires you to pay only the minimums to CCs that do not have the highest interest rate. [S]he seemed worried that his/her score might suffer. The general consensus is no, it does not.

- Joel
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