How To Guide For: Cutting Credit Card Debt To Get Ahead Of The Higher Interest Rates
Since it has been announced by the Fed that it will increase interest rates, now may be a good time to start cutting down your credit card debt. When paying down credit card debt on multiple cards it's a good idea to try and pay off the balance on the credit card with the highest interest rate first and work your way from there. To cut credit card debt it's important that you pay more than the minimum payments monthly. Paying more than the minimum payments monthly will help you tackle the debt faster. To eliminate credit card debt to get ahead of the higher interest rates you may want to sign up for a balance transfer card, but this is only something you should take on if you're committed to paying off your balance within the introductory no interest or low interest window given, which is usually anywhere from 12-18 months. When transferring your balance to a balance transfer card, it's important to note that you'll be charged a balance transfer fee which is usually about 3 to 4 percent of the total amount transferred. These are just some ways that you can cut credit card debt. To get more in depth information on cutting credit card debt to get ahead of the higher interest rates click on the pictures below to read the articles.