I'm almost ready to start clearing the debts - but I'm confused..........

[FAQinglovely]

I know that you should pay off the ones with the highest interest rate first - yes?

Well I have 2 credit cards - both with similar amounts on them (almost identical actually) but totally different interest rates

One is 30.34% (I know I know I know......)

The other is purchases at 17.95% and cash withdrawals (of which some of it is) at 26.93%

Now I've been paying off the minimum payments on both of these account but now am nearly ready (just a few more other bills to clear) to start paying off bigger chunks to clear them. However the one with the highest interest rate the balance appears to be going down quicker than the one with the lower interest rates when using the minimum payments.

Should I stick with clearing the highest interest rates first or the one where the balance is going down the slowest with the minimum payments??

Cut the cards up so that you don't get deeper into debt.

not going to cut both of them up - t haven't used either of them for about 4/5 months.

I intend to keep the lower rate one for what it was intended for - things that require credit card for purchases and sudden unexpected one off expenditures if I don't have the cash to hand.

Your choice, FAQ