Another incentive for using the windfall to pay off all the credit card balance is the peace of mind that it could bring. You might be a person who prefers to have no credit card debt. Under ideal financial conditions, you are the type who pays off the total balances on all cards each month. The windfall provides the opportunity to return to a zero balance.
Although there are no absolutes in personal finance, there are always options to compare. One side benefit of having money fall into your lap is the luxury of a number of choices. That makes you the master of your financial universe.
– Michael Germanovsky is a credit card expert and the editor-in-chief of Credit-Land.com, a credit-card comparison website.
