Credit card debt is not fun and if your swimming in it like most people it can kill your vibe but it doesn’t have to. I mean there is something called balance transfer but its not for everyone.
I have some tips for you when the interest free balance transfer isn’t the best thing in the cards.
If your looking for a credit card maybe look at creditcard.com
You could make small payments throughout the month. If you have a balance you should look at making more than just a single payment on your credit card a month.
The interest on the card depends on the daily amount on the card so the less you have on the card the less interest you will be charged so maybe instead of buying your weekly coffee put the $25 towards the credit card and knock some of that interest off.
Now you can pay the balance off early but that’s if you have the cash available.
It’s a good idea to maybe have a card that you keep a low balance on that you pay off each month in full and if you need to make a big purchase just use that credit card.
The next thing you can do is always contact the credit card company and see what they can do to issue you a lower interest rate. It never hurts to ask and some banks will offer special rates in an effort to keep you as a customer. Banks and credit card companies hate losing customers.
Looking to make a big purchase
If you are looking to buy a “big purchase” item like a new or used car from a local car dealership or even a house your debt to income ratio plays a big role in all of that so paying down or off credit cards will help increase your income to a lender.
Having no debt is the best lifestyle but the hardest lifestyle.