10 Easy Steps to Lower Credit Card Debt
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Transcript of 10 Easy Steps to Lower Credit Card Debt
10 Easy Steps to Lower Credit Card
Debt
brought to you by:
www.BadCREDITResources.com
It’s very unusual today to meet someone without any credit card debt...
Whether you’re stuck making minimum payments while you watch your debts get higher every day, or you have a huge number of credit cards that you need to bring back under your control.
there are many ways to lower your credit card debts and reign in your out-of-control finances.....
#1:REIGN IN YOUR GUILT
If you think you’re already in too far find a solution, it’s easily to
justify the “I can’t fix it, so I might as well break it further” line of
thinking.
#2: DON’T TAKE ALL YOUR CARDS WITH YOU EVERYWHERE YOU GO
This will make it easier to keep track of your spending and
decrease your debt instead of adding to it.
#3: WHEN POSSIBLE, USE A DEBIT CARD
Instead of pulling out your credit card when you’re short on cash, use your
debit card instead.
#4: BE FAMILIAR WITH INTEREST RATES
Interest rates on credit cards can be incredibly high, so a key component of lowering your debt is knowing how
much interest you’re paying and how it affects the length of time it will take to pay off your
credit card balance.
#5: LOWER YOUR INTEREST RATE
Most credit card companies will be willing to lower your
interest rate, especially if you indicate that you are willing to cancel your card and move to another company that offers
lower rates.
#6: OBTAIN A NEW CARD WITH A LOWER INTEREST RATE
If your credit card company isn’t willing to lower your rate, consider
transferring your balance to a lower-rate card.
#7: ADHERE TO DEADLINES
Consistent late payments can also negatively impact your credit score.
#8: BE AWARE OF ANNUAL FEES
Before choosing a credit card with an annual fee, do the math to
make sure the fees will cost less than the potential accumulated
interest.
#9: IF ALL ELSE FAILS, GO TO A PERSONAL FINANCE COUNSELOR
Consumer credit counselors and debt management companies are there to help people who are truly in over their heads when it
comes to their credit card debt.
#10: GET STARTED NOW
There’s no time like the present to start; delaying will
only allow the situation to grow further out of your
control.
10 Easy Steps to Lower Credit Card Debthttp://www.badcreditresources.com/articles/10-easy-steps-lower-credit-card-debts/
Related Article:
Credit Card Debt and You
http://www.badcreditresources.com/articles/credit-card-debt-and-you/
Some Tips on Managing Credit Card Debt
http://www.badcreditresources.com/articles/some-tips-on-managing-credit-card-debt/