24,938 views since Nov 26, 2023

Should you pay your credit card balance off in full? Is it good or bad to do so? What impact will it have on your credit score? And once you've paid it off, do you keep your card or do you get rid of it?

Yes, paying off your credit card is a good idea because it's going to free up income, eliminate having to pay interest to the banks or other financial institutions, and it's going to improve your credit score.

Make paying off credit cards a priority in your financial journey to become wealthier faster.

Whether you use a debt snowball or debt avalanche (I'll briefly discuss which one I think is best), prioritizing credit card debt will get you ahead faster.

t :)

MY VIDEOS MENTIONED IN THIS VIDEO:
$5,000 Credit Balance will take 33 Years To Pay Off:    • Just $5,000 in Credit Card Debt Will ...  
How To Pay Off Your Credit Card Debt:    • How To Pay Off Your Credit Card Debt  

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Song: AWN - From The Seaside (Vlog No Copyright Music)
Music provided by Vlog No Copyright Music.
Video Link:    • AWN - From The Seaside (Vlog No Copyr...  

ME:
I'm an Australian Personal Finance Author and YouTuber.

OTHER SOCIALS:
I occasionally post to Instagram, you're welcome to check me out there:
@traceyedwards.insta

DISCLAIMER:
Any information in my videos is my own personal opinion and not intended to be substituted for your own financial situation. Everyone has different circumstances and you need to consider what works for you and get professional advice when needed. Cool :)