Page 33 - Winning The Credit Game Bundle (CK Patrick)

WINNING AT PAYMENT HISTORY 21

put as much money as possible toward making the highest-interest
debt disappear.
You might also consider temporarily cutting down on unnecessary
expenses in order to achieve this. There may be pleasures you would
not want to go without permanently, but if skipping them for a few
weeks allows you to eliminate a high-interest loan, you can think of the
temporary deprivation as an investment in having a lot more spending
money in the future.
Let’s take a moment to rank your open credit lines by interest rate,
in order from highest to lowest. Place the loan with the highest interest
rate at the top of the list, and the loan with the lowest interest rate at
the bottom:
Credit Line 1: _________________________ Interest Rate: _____%
Credit Line 2: _________________________ Interest Rate: _____%
Credit Line 3: _________________________ Interest Rate: _____%
Credit Line 4: _________________________ Interest Rate: _____%
Credit Line 5: _________________________ Interest Rate: _____%
Credit Line 6: _________________________ Interest Rate: _____%

Now, focus on getting each of these lines of credit completely paid off
as quickly as possible, moving from top to bottom. This will save you
the most money in the long run, and saving money means having
money available to make credit power moves.
While you’re eliminating high-interest lines of credit that you
already owe, it’s also a good idea to start comparatively shopping in
the event that you need to open a new line of credit for some reason.
It’s a good idea to avoid taking out a new loan or line of credit at
this time, because if you wait a few weeks or months until we have
implemented the other steps in this workbook you will get much better
offers. But if you simply must take out a new loan or line of credit,
follow this protocol to get the best results: