Credit card debt can not only be hard on your mind, but it can also be hard on your wallet. Many of us have quite an amount of credit card debt. It can be very stressful and worrisome, and not only negatively affects the person, but the whole family too because it can get very depressive.
Help with this kind of debt - Ask for a lower interest rate!
Contact your credit card company/companies and ask for a lower interest rate. They don't really advertise this, but they can give you a lower interest rate for a yearly fee. The yearly fee is usually about $35 but it is totally worth it. In a lot of cases, this type of debt is hard to pay because of high interest rates. A lower interest rate can lighten the burden of your credit card debt and help you to pay it off quicker.
Cut up your credit cards
To pay off debt quicker, cutting up your credit cards is a good idea. This way you won't be able to spend more. Don't close your accounts as it will affect your credit rating. Not good. If you don't want to cut up your credit cards, then give them to someone you trust like a family member and ask them to put it in a safe spot and hold onto it for you. This way, if there is an emergency situation, it will be there to help.
The "Debt Snowball"
Using the debt snowball method can help you pay off your debt quicker as well. The debt snowball method is when you pay off the credit card with the smallest balance first. So the credit cards with the bigger balances should just get paid the minimum payment while you put extra on the one with the smallest balance. Then when the first one is paid off, you go on to the next one with the smallest balance and pay more than the minimum payment while the rest of the cards just get the minimum payment. Following this method will help get debt free quicker and won't affect your credit rating unlike debt relief programs and debt reduction services.
After starting to implement these 3 things, a good idea would be to try looking into credit debt management classes where you can learn about causes of debt and what you can do to avoid it happening again in the future.
If you are serious about getting out of debt... if you're SICK and TIRED of your current situation and things that DO NOT WORK for your favor, read my personal experience with debt relief programs - you'll change your life in a few months from now.
STOP worrying and start taking action - everything you need is here:
For more information, please visit: Credit Card Help
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