You may use your credit cards for trips, special occasions, birthdays and special purposes. The average consumer debt for Americans is $39,000. This can really put a strangle-hold on your finances. It’s important to get your credit card debt paid off as quickly as you can.
How do you get rid of this credit card debt:
Get organized Prioritize your debt repayments Use an online tool to help you see what your best payoff would be
Why pay off debt?
It can keep you from getting a house or car loan Your debt ratio should be no more than 30% of your income
Strategies to pay off debt:
Pay highest APR down first and roll that payment into the next debt repayment Pay off the card with the lowest balance first. This can make you feel successful right away. Try to consolidate your cards and then focus on paying it all off. Stop charging any new debt.
The Debt Analyzer