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New Way Of Paying Off Credit Cards?



We have always been told to pay off the credit card with the highest balance and interest rate first, and then proceeding to the next card, right? But paying off credit card debt has a new twist these days: paying the minimum due on all cards each month,  except the one with the lowest balance--that one you pay off as quickly as possible with higher payments.


When you pay off that first credit card (the one with the lowest balance on it,) you add that monthly sum to the next balance you want to get paid off quickly, while still continuing to pay the minimum balance due on the remaining cards. As you knock out one debt after the next, feeling of accomplishment will help you continue on with the plan until you have wiped out all your credit card debt.

Though it is true that paying off the biggest debt with the highest interest rate first will minimize the interest you pay over the long term, this  method offers very little motivation to stick with the program, because it's easy to feel like you're not getting anywhere and give up.

So I am curious: which method do you use, or be most likely to use?

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