Eliminate Credit Card Debt in fast

The evidence and real credit method
Excessive credit card debt of the disease is increasingly in America, like many diseases, people tend to crowd out the problem until it is of epidemic proportions. Now the control and elimination of credit card debt to your financial health threat.

To avoid credit card debt as soon as possible at low cost to you, I advise you to use tried and true credit card debt disposal method is often recommended by financial experts. I call this method drastic reduction credits.

1st List all your credit cards, including balance, interest rate and minimum payment and minimum payment in accordance with the latest statement. The minimum payment can be found in small print on your credit card or a card agreement, and typically between 2 and 2 1 / 2 percent of your account.

2nd To sort the list so that the credit card with a high interest rate is at the top and a credit card with a low interest rate on the ground.

3rd Add the minimum payments required for all cards.

4th Decide how much money you can every month, in addition to the common minimum requirements for payments on all your credit cards to apply for your credit card debt. If you do not think you can afford to pay additional amounts to a minimum payment, it is time to establish a budget and find ways to reduce their costs. If you follow the advice of my budget 101 manual to find ways to reduce costs and allowance, pay off your credit card debt.

5th Every month, pay the minimum balance on each credit card, with one exception, high interest rates. For the credit card with high interest rates, pay the minimum balance and an additional amount you out to reduce your credit card debt per month.

6th Also continue to do so until the first credit card (one with high interest rates) is fully paid. Then take the amount you pay by credit card (which has now borne fruit) and the amount of minimum pension equal weight for a second credit card, and the total in the second credit card every month until "that the balance is paid to continue pay the minimum balance in all other credit cards.

7th More chew payments on your credit cards with high interest rates, as described above until all debts on credit cards fees.

Some financial experts recommend the payment of credit cards with low balances first instead of working on those high interest rates. I do not agree with this approach, although it might feel better to see your credit card number with reduced surplus, a good feeling that you cost money. Fund balances with higher interest rates accumulate faster than the cost, which means that you pay more for credit card companies and less interested and actually pay the amount you owe.

Strategies to eliminate credit card debt easier

Enjoy every round in the book to your credit card debt quicker and simpler. For example:

* Call each of your credit card company and demand lower interest rates. You may be surprised at how quickly some of them agree. More low interest rates, you can eliminate your credit card debt faster without an increase in the payments.
* If your credit card is not prepared to lower interest rates, shop for another card with a low interest rate, which allows you their accounts. Your homework thoroughly to be sure that you are paying off, the balance before the introductory rate expires proposals.