Paying off credit card debt may seem like a daunting task, so it is important to have a solid plan of action. First, if you have good credit, it may be an option to try to qualify for a balance transfer card. You can also combine your cards onto a single credit card, if this is an option for you. Two other possible options are the debt snowball or debt avalanche methods. Finally, if you are overwhelmed, it is important to know that you are not alone. Reach out for help.
Key Takeaways:
- Get a debt consolidation loan which is a personal loan that combines all your debt into one loan.
- If you don’t think you’ll ever be able to climb out of the debt you have, call someone and get help.
- The debt snowball method is when you pay off your balances in order from smallest amount to largest.
“If you still have very good credit, you might qualify for a balance transfer card. These cards offer a 0% introductory annual percentage rate for a period of time, such as 12 to 18 months.”
Read more: https://money.usnews.com/credit-cards/articles/how-to-pay-off-credit-card-debt
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