Step 1: Rack up some debt on your high interest credit cards
Step 2: Start paying your credit cards off.
Ok I know what a lame post, but to be honest if you have credit card debt and your credit score is less than stellar it’s probably pretty likely that you are paying 20 or even 30 percent on your credit cards. This is the primary reason that people who get themselves into credit card debt have such a hard time pulling themselves back out of debt. So if you already accomplished Step 1 before reading my blog, the smartest thing you can do with any possible extra money is to put it towards paying those credit cards off.
Of all the “investment” options out there, nothing will come even close to the return you get on your money when you pay off your credit card debt. As much as I and others tout saving for retirement, investing in 401ks and IRAs, you should not even consider doing any of the above if you have credit card debt.
For great resources on getting out of debt check out