As we have discussed many times before, here is what you need to do:
-Always pay at least the minimum amount due on every credit card every month. That is the best way from keeping your FICO credit score from falling any further. It will also help keep your credit card company from closing your account or lowering your limit.
- Put all of your credit cards in order according to the highest interest rate. Start with the credit card with the highest interest rate and concentrate on paying off that one first. Pay as much as you possibly can each month to get that credit card paid off.
- Once that credit card is paid off, move on to the the next credit card, the one with the next highest interest rate. Start applying the payment you were making towards the first card and add it the minimum payment you were previously paying on the second credit card.
- Keep repeating this process until all of your credit cards were paid off.
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