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Credit Card Debt Reduction - 3 Tips To Lowering Credit Card Debt
Credit card debt can be reduced through lower rates or
negotiating for reduced balances. With reduced interest, you can
pay off the principal quicker with the same monthly payment. The
other approach is debt settlement, which eliminates part of...
Lawyers are not always a Solution for Credit Repair and Credit Building
Lawyers often charge high fees to help individuals get out of
debt. Credit repair clinics are available to assist individuals
with debt relief, but only the absolute desperate would even
consider these types of solutions. So, if this is not...
Low Interest Credit Cards Have Many Advantages
When credit cards are used wisely they can be very beneficial to the consumer. A low interest credit card can be exceptionally beneficial. Many people use the same credit card that they have had for years. Some people still have the very first...
SuperCharged Secret 1 of 5 - Credit Card Utopia
I AM THE CONSUMER. AND I HAVE LOW-RATE SUPER-POWERS!
Note: The following is part 1 of a 5 part series. Over the course of these next 5 articles, I am going to introduce you to several methods for maximizing the use and benefits of the best...
Swipe Age: What Is A Credit Card Machine?
Credit card machines nowadays come in various types and prices.
The kind of business a merchant is venturing on determines the
kind of credit card machine that he or she is going to use.
If a transaction should be typed in the machine for it...
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Play the Credit Card Game and WIN
Credit cards are fast becoming a blight on the American economy,
but they also help stimulate growth. The problem comes when
users are forced to (or voluntarily) overspend and begin the
never ending cycle of paying less than the full balance on the
credit card. At this point you officially have credit card debt.
When we got married we had over $34,000 in outstanding debts,
much of it on credit cards. After sitting down to have a good
cry I got things into perspective. With a solid plan and the
determination to stick with it, we could have those debts
completely paid off within a couple of years.
The time it takes to clear those debts depends on your income
and ability to trim other expenses in order to funnel as much
money as possible toward those debts. It does NOT mean that you
will have no life and no fun. You will have to make tough
choices so your life should be different, but you can always
make it fun.
There are several ways to play the credit card game and win. You
can consolidate your balances into a lower interest loan, you
could refinance your mortgage and roll those debts into your
home loan, or you could play the game of transferring higher
interest balances to low or zero interest credit cards. I chose
the latter option, you will need to consider which option is
best for you based on your own credit rating, your ability to
secure low interest loans, your ability to repay and
most
importantly, your level of discipline.
If you have no discipline when it comes to money, then the
process of transferring balances could be hard for you, as it
requires you to pay attention to when your zero interest credit
card offer expires and move that balance to the next card at the
right time. If this is too time consuming for you, then you'll
definitely want to look into refinancing your mortgage or
getting a consolidation loan to cover all your credit cards.
I love numbers, I love math, and playing with money like this is
a game for me not a chore. So transferring balances to new
credit cards every few months was fun. Watching those balances
shrink as I paid ZERO interest the entire time was a thrill. I
felt victorious over the credit card companies... and over my
debt. As a result we paid off over $34,000 in debts in about 18
months. When you're not paying any interest and you don't stray
from the plan it can work. It really can. You don't have to love
the game in order to win it. You just have to keep playing and
don't lose sight of the goal. Pay off the debt.
About the author:
If you are interested in learning how to play the balance
transfer credit card game and WIN it, visit Win the Credit Card Game at the Free Debt Relief
Help site.
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| CUNA: The Credit Union National Association |
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| Credit/Debt Management - Tools and Advice for Managing Credit and Debt |
| Drowning in debt? Trying to improve your credit score? This is the place for you. Get real world information and tips, as well as the legal low down, ... |
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