[rattlsnak]

Had a discussion with a friend, who has three credit cards. 2 with @ $5,000 balance and 1 with a @$10,000 balance. He has $10,000 to use to pay off some debt. Which would be better... to pay off the two with $5,000, or the one with $10,000 ASSUMING all things equal, like interest rates are the same, etc... Right now he only pays minimum payments on all three and he will only be able to pay min on whichever cards he has left.
I would think its better to pay off two cards than one, but actually, the finance charge on the two smaller cards combined is a little cheaper than the one big card. Right now he is paying @$550 a month on these three cards, so paying off the two small ones or the one big one would reduce his monthly bill to the same thing @$300.00. So which route would be "smarter"?