Getting Your Credit Card Debt Under Control
I know you have heard it before, but it needs repeating…Pay off your credit card every month! Don’t use your card except for emergencies. Why give the credit card companies your hard earned money? That is what you are doing every month that you pay them interest.
Make sure you are not paying an annual fee for a credit card. Any annual fee is too much. There are lots of card companies out there that do not charge a fee to have one of their cards.
If you have credit card debt, then the first thing you need to do is check to see if you can transfer any and all balances to the lowest interest card. This way you can make one payment at a low interest and save money. This is the only time that it is recommended to get another card. If you can get a card that does not charge to transfer balances and you can get it at a zero interest rate for even a year, this will save you money if you transfer your balances and then make sure you pay them off.
Did you know most “Gold Cards” come with an annual fee. Read the small print if you are offered a Gold card because you might find it not worth the extra cost.
Now is not the time to be in credit card debt. Pay off your smallest credit card balance first and then work your way through your credit cards, cutting them up as you pay them off.
Go over your credit card bill with a fine tooth come. Make sure the charges on there are your charges. If they aren’t, you need to contact the credit card company immediately.