Paying off Credit Card Debt – Who Wants to Know The Fastest Way for Paying of Credit Card Debt?

This article on how to pay off credit card debt will focus upon four different strategies which you are able to pursue without having to visit a professional: the 0% card, paying off one at a time, cutting out the cards, and knowing the difference between your needs and your wants.

Credit cards are a serious issue with the United States as the average American household has over $ 9,000 in credit card debt. This is likely a situation you have found yourself in as you are reading this article and probably are wondering how you can pay off your credit card debt.

Paying Off Credit Card Debt: Get a Great Balance Transfer Offer

For you to pay off credit card debt, you will want to look for a card with a 0% introductory rate. You will want to go with a credit card that offers this percentage for 12 to 18 months, with a longer time period being better.

This will allow you to put your highest interest rate credit cards onto the 0% and then put any excess money towards your other cards with interest rates. Once you pay off your credit cards with interest, you can then focus upon your 0% percent card. This should save you a couple of hundred dollars a month, depending upon your situation.

The next part of this article will focus on how to pay off one card at a time, as another method to pay off credit card debt.

Paying Off Credit Card Debt: Gathering Your Statements

Gather up all of your better card statements when you want to work at paying off your cards one by one. You will first want to take the smallest card and make as large of a monthly payment as you can on it while still making the minimum payments on the other cards.

By making a large monthly payment on one card, you can reduce the balance quickly and it is proof before your eyes that your debt is being reduced. Once you have your first card paid off, go to the next card with the second highest balance and make that monthly payment along with the monthly payment you are making on the first card until it is paid off.

This will allow you to see progress that you are making on your journey to become debt-free. This will allow you to pay off credit card debt. The next part of this article will focus on how you can pay off your credit card debt by cutting up the cards.

Paying Off Credit Card Debt: Should You Cut Up Your Cards?

To pay off credit card debt, you need to have one of the strategies employed above but you also need to cut up the credit cards. Many individuals will find that they put themselves in a similar situation again within two to five years after the first credit card problem happened by not cutting up credit cards. Always check your freeannualcreditreport (freescorereportgov.com) on an annual basis.

The final part of this article will help you figure out how to handle things that you need versus things that you just want. You need to focus first upon your needs and then save for the things that you want.

Paying Off Credit Card Debt: Needs vs. Wants

By doing this, in a situation you have, you can think about whether you need the item or whether you have the money in the savings account to pay for your wants. If you don t have the money in your savings account, don t buy the item. This will have a major impact on your financial future.

Hopefully this article on how to pay off credit card debt has given you some insight into how to solve this problem. You also need to work on making sure that this problem never happens again.

Good luck and we will see you soon on the other three after working to pay off credit card debt.

Get your hands on free debt help resources designed to help you pay off your credit card debt [http://www.payoffallyourdebt.com/free] at: [http://www.payoffallyourdebt.com/free]

Fabio Marciano is the author of The Secrets of Wealth and president of The Wealthy Pauper, a company whose mission it is to help educate people about investing, getting out of bad debt and personal development.

Article Source:
http://EzineArticles.com/expert/Fabio_Marciano/25000