If Jeff wants to pay his credit card debt, which payment should he prioritize first?

When prioritizing which payment to make first on credit card debt, focusing on cash advances is crucial due to several factors. Cash advances typically come with higher interest rates than regular purchases or balance transfers and do not have a grace period. This means that interest starts accruing immediately after the cash advance is taken out, making the cost of this debt much more substantial over time.

By paying off cash advances first, Jeff can minimize the total interest he will pay, reduce his overall debt load more effectively, and avoid the financial repercussions associated with accruing interest on these higher-rate balances. Prioritizing this payment helps Jeff regain control of his finances more quickly and efficiently.

Other payment types like purchases or balance transfers may have promotional offers or lower interest rates associated with them, while fees are often fixed and not as critical to clear immediately compared to high-interest cash advances. Thus, tackling cash advances first is a strategic move toward better financial management.