Paying Off Your Credit Card Debts Quickly
If you are in credit card debt and would like to pay off your cards independently, this article should assist you with some good strategies.
On average, the American household has about $10,000 dollars in credit card debt. This is not a problem unique to you. Here are some ways you can help yourself.
The first thing you should do is find a card that offers 0% interest for at least 12 to 18 months. In doing this you will be able to use this while paying off the cards with high interest rates. Now you can focus on paying the other cards off. Once you have finished paying them off you can focus on paying the 0% card down. Doing this will save you at least a couple hundred dollars per month.
Another option is to pay off one card at a time. Look at all of your credit card statements. Determine which has the smaller balance. Start by making larger monthly payments to the card you owe the least amount of money to. This card will still be allowing minimum payments. You will still be making monthly payments to your other cards but you will be paying the first card off more quickly. Do this in succession. Once your smaller card is paid off, pay off the next card with the lowest balance.
Once you have employed the best method of paying your cards off, you will need to cut the cards up. While this sounds harsh, it is the only way you can be sure this does not happen to you again in a few years.