I have 3 cards, all with varying balances that I am clearing.

Which way should I do this:

1. Pay as much as possible to card with lowest balance and monthly minimum on the other two cards. This would clear one card before the others.

2. Pay as much as possible to card with highest interest rates and monthly minimum on the other two cards. This would reduce the interest I'm paying

3. Pay as much as possible to card with highest balance and monthly minimum on the other two cards. This would reduce the worst balance quicker.

4. Move all balances onto a new 0% card?

The best plan would be option 4 - move all the balances onto a 0% card. Remember that if you do it, you should NOT treat the cards you have cleared as available to use again. In reality you should probably cut them up. Also, the new 0% card will not be for using - you might find the APR on new transactions is higher than normal to make up for teh 0% rate.

ANd make sure you pay as much of the capital as posisble when it's on 0% as you will be saving interest payments!

Look out also for an admin charge when transferring over. Only somewhere around 3% but that can add to the overall bill.

I've just looked into things, and Halifax have a 10 month 0% interest deal on at the moment. 3% charge on transferred balances, online application. Worth taking a look.

I have applied for one of these; had the paperwork which is signed and on the way back. 0% for 10 months on balance transfers which isn't to be sniffed at at the moment! So I have moved/will move (not sure if they do it automatically as they have the details already) my highest APR card balances to save ££££ !!! Hopefully will all be clear in the 0% period as well, which will save me loads of interest payments.

With the way the economy is going, you really need to get as much as possible paid off before everything gets even worse than it currently is. I would agree with the others, get it onto 0% ASAP and start overpaying to clear the balance.