I've heard so many different means of adopting the right strategy for clearing off debt. I know that there's a couple of really smart AKers out there that may be able to give me some help.
I'll soon have enough cash to cut all my credit card balances in half (let's say I owe about 20k total). Question... do I drop each one down an equal amount or pay off the highest interest rate Credit Card first? I'm guess the later but I've also heard it's good to keep no more than 30% on any single card.
Also, do I ask for a reduced interest rate from the CC companies before or after I pay a big chunk? I've got one at a friggin 24%! Do I have more leverage by paying it down and then asking for a reduce rate?