House vs. Cards

If you had the opportunity to pay off your rent/mortgage or your credit card debt, which would you pay off and why?

No answers like, "I'd split the money and pay both", etc.

Jerlene,

I would pay off the credit cards first no question. They have the highest interest rate and are costing you the most money and balances on credit cards tend to have negative hits against your credit score.

Mortgages are good debt. These can get really complicated because there are cases where you may not want to pay extra on a mortgage and there are cases where you want to.

To answer your question though list your debts with the highest interest rate first and so on. Pay off this that order.

I know mortgage is good debt but I don't like to be in any debt and I think paying off the house bill is more important.
If you don't pay it off, you could risk forclosure.

Well if I need to choose between them wisely then i ould make a plan and will try my level best to pay both the rents more or less in the same time. I would always prefer to pay those debt where I have a higher interest rate.

I think this is a loaded question.

If your question means "I got a lump sum - which debt should I cover first" then the answer is definitely credit card.

But if your question is "I'm broke this week, which payment should I make first" the answer is definitely mortgage.