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Use Stimulus Check to Pay Off Credit Card Debt


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    Gotta be one of the best uses for a $1200 stimulus check - use it to pay off outstanding credit card balances, right?

    Assuming you don't need to use it for utility bills, food, rent, etc. But even then a lot of people are putting those expenses on credit cards right now. So to stop the interest from accumulating down the road its still very smart to take your stimulus check and use it on CC debt if you have any.

    Pick the highest interest rate card you have, would be my suggestion. If they are all the same interest, the one with the highest balance, assuming you can cover the minimum dues on all the other cards.

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    It's great advice, especially if you are able to cover your other bills with other finances. Unfortunately, data has shown that only 15.7% of recipients intend to use their stimulus check to pay down debts, with the vast majority of those being in the upper-income of stimulus check recipients. The vast majority of recipients in the lower-income of stimulus check recipients reported using their check on day-to-day expenses.

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    I have to say that I used almost 100% of mine to pay off a good chunk of my credit card. It's definitely a solid option to go with, as long as bills are still getting paid.
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    I'm spending it for College and puting it Savings accoun in diffent bank account thank you for your help and support and that's okay with me l have School and then college .

    Gotta be one of the best uses for a $1200 stimulus check - use it to pay off outstanding credit card balances, right?

    Assuming you don't need to use it for utility bills, food, rent, etc. But even then a lot of people are putting those expenses on credit cards right now. So to stop the interest from accumulating down the road its still very smart to take your stimulus check and use it on CC debt if you have any.

    Pick the highest interest rate card you have, would be my suggestion. If they are all the same interest, the one with the highest balance, assuming you can cover the minimum dues on all the other cards.

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    Wrote:l don't owe anything to anyone and that's personal

    Gotta be one of the best uses for a $1200 stimulus check - use it to pay off outstanding credit card balances, right?

    Assuming you don't need to use it for utility bills, food, rent, etc. But even then a lot of people are putting those expenses on credit cards right now. So to stop the interest from accumulating down the road its still very smart to take your stimulus check and use it on CC debt if you have any.

    Pick the highest interest rate card you have, would be my suggestion. If they are all the same interest, the one with the highest balance, assuming you can cover the minimum dues on all the other cards.

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    Good night