Martin Lewis was on TV screens again this week bringing money-saving tips and financial advice to the country.
On the latest episode of his programme, the money guru dispensed some really useful advice for those with more than one credit card to pay off.
He asked the studio audience which card to choose to pay off first. There was a correct answer from one woman - 'the one with the highest interest rate'.
Martin explained that most people would select the card with the most on it as the first to clear. However, the smartest way is to pay off the card with the highest APR or interest rate first.
"Always when you've got debt, you list them in order and you prioritise the one with the highest APR , the highest interest rate, because it's growing more quickly," he explained.
He added that you must remember to pay the minimum payments on the others. Then, when the first one is paid off, switch the payments to the next highest interest, and so on.
"You just pay the minimums on everything else and then when that one's gone, you focus on the next highest. Because if you do them all equally on all of them, you've got the one that's growing most quickly and you're not trying to get rid of it."
The reason is that the high-interest card is growing faster than the others. That means you are cutting down on the repayments in the long run.
"Focus your repayments on the highest interest rate and just the minimums on everything else, if you've got multiples, and include your overdraft on that. Overdrafts these days are around 40%, danger debt, really danger debt. Much more expensive than most credit cards."
The Martin Lewis Money Show is on ITV on Tuesdays at 8pm, or you can catch up on ITV Player
