We have $13,000 in credit card debt (just one card) and $30,000 on a home equity loan. How do we?

attack this debt the smart way? The credit card has a pretty good fixed rate. The home equity loan is adjustable and it is creeping up steadily. So far, I've been paying extra on both debts. Would it make sense to pay more on one than the other?

Pay on the credit card debt. The interest on your home eq is tax deductible, so it helps with your IRS taxes at the end of the year. The credit card is not.

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Put more money to the smallest balance. When that gets paid add that payment to your monthly payment for the larger balance.

Stop buying stuff.

My personal opinion is to clear the equity loan first. If you default on the credit card, your credit will be affected. If you default on the equity loan you'll lose your house.

pay as much as you can to the one with the highest rate. Minimum payments to the other. When the first is paid, then apply the same amount, the combined amount, to the remaining debt.

Another approach is to refinance and stay away from the adjusted ARM and go to a fixed interest rate (5-6% presently if I remember correctly)

Refinance the credit card debt into the refinance to get rid of the higher interest rate over time ratio.

6% over several years is a lot less than 15% - 29.99% for a credit card.

Besides, paying on one debt rather than two will be less initially, but if you pay extra on the one, you will have more cash going on the principle and less on interest compared to having a higher interest rate credit card with an adjustable ARM creeping up.