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Erase Credit Card Debt


If you are overwhelmed with debt issues, you can erase your credit card debt by following a few true and tried solutions to your problem.

Much of the problems with credit card debt start from having too many credit cards. Too many credit cards are not only hard to keep up with, they can also bring down your credit rating.

Eliminate Cards You Don’t Need

So one of your first actions that should take to erase your credit card debt is to get rid of the cards that you don’t need. Many financial experts suggest cutting them in half, and that’s a good idea.

Most people need no more that three credit cards. You can start by eliminating the cards with the highest interest rates. And as you tear up each card, come up with a plan to pay down the balance on that card as well.

Make it a part of your strategy to pay as much as you can towards that credit card balance as you can, until you have paid off the entire balance. Then cancel the credit card and start with the next one on your list.

Negotiate With Credit Card Providers

Another painless way to start to erase your credit card debt is to negotiate with your credit card providers for a lower interest rate. Most people don’t realize that the rates are negotiable and as a result, are paying much more than they have to.

If your credit is in good standing, and you have made your payments on time, most companies will offer you a lower rate to avoid the chance of losing you as a customer.

Journal Your Credit Card Usage

Most people have much more debt on their credit cards than they realize. In tests, where couples and individuals were asked to guess how much total credit card debt they had, many were wildly off the mark. That’s because many people use their credit cards without thinking much about it.

A good way to bring to the forefront just how much you are carrying on your credit card it to start to keep a journal of your use. Much the way a food journal forces many people trying to lose to focus on their eating habits, a credit card journal will focus your mind on your spending habits and help to eliminate unnecessary credit purchases. Once aware of these habits, you are more likely to change them.

As a side benefit, journals are also a good way to track your spending habit over a period of time. Once or twice a year, you and your spouse can sit down, go over the journal, and determine if some of the things you are spending money for are still important to you. And if they’re not, you can drop them and save even more money.

If you are serious about erasing your credit card debt, you have to be proactive. Credit cards are a great convenience in our society, and in some cases, you really need one. The key is to learn to handle your debt responsibly. Putting together a plan to erase credit card debt is a good way to start.


Get Out of Credit Card Debt
If you want to keep some semblance of control over your financial situation, you have to get out of credit card debt. Failure to do so can put severe limits on your future lifestyle.

Finding the Lowest Credit Card Rates
Finding the lowest credit card rates available only makes common sense if you’re serious about managing your money, not to mention your credit card expenses.



 

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