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Money and Finances
Reply to "Make $200k, credit card debt, no savings "
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[quote=Anonymous]I'm still curious about the argument for paying off the IRS before everything else is paid. This is likely a low-interest-rate obligation that does not affect OP's credit score as long as minimum payments are being made. Given the interest rates mentioned above, it is obvious that the credit cards need to be the priority. (As for debit cards: those are dangerous. Don't use them. Credit cards offer consumer protections and legal liability limits for unauthorized use. In the case of unauthorized use, you are not out the money while the bank investigates the issue, as you would be with debit cards. There is nothing wrong with using credit cards that are paid off every month, on time. Cash and checks are good, too. But don't use debit cards.)[/quote]
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