What is the quickest way to get out of credit card debt?
You can read the article by following the link below. The main points the article suggests though, are: 1.) List all of your credit cards, including the balance, the interest rate, and the minimum payment percentage and the minimum payment according to the latest statement. 2.) Rearrange the list so the credit card with the highest interest rate is at the top and the credit card with the lowest interest rate is at the bottom. 3.) Add up the required minimum payments for all the cards. 4.) Decide how much money you can come up with each month, in addition to the total minimum payments on all your credit cards, to apply to your credit card debt. 5.) Each month, pay the minimum balance on each credit card except the one with the highest interest rate. On the credit card with the highest interest rate, pay the minimum balance PLUS the additional amount you’ve identified to reduce your credit card debt each month. 6.) Continue to do this until the first credit card (the one with the highest
If you are determined to pay credit card debt off you are making the best financial decision of your life. The reason credit card debt is so bad is because it carries such a high interest rate. The quickest way to take back control of your finances is to pay credit card debt down or get rid of it completely. Here are the best and quickest ways for total credit card debt elimination. Eliminate Credit Card Spending You must immediately eliminate credit card spending because you will never pay credit card debt off if you continue to add to the outstanding balance. The interest on that debt added with a climbing balance will make it impossible to ever pay off. Pay More Than The Minimum Payment Always pay more than the minimum payment on the credit card you want to eliminate first. Paying the minimum payment makes you keep paying that high credit card interest rate. That’s exactly what the credit card companies want because they are making a fortune off of that interest. The best way to pay
