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Three Things to Do When Your Credit Card Bill Gets Out of Control

credit card bill out of control

You may have seen it coming – or not. Your credit card debt has gotten and higher, and now it’s out of control, stressing you out, and keeping you up at night. Something has to be done, before your financial situation becomes worse, impacting your credit score beyond measure. Fortunately, all is not lost. We can help you get your finances back on track and show you how to pay off high credit card bills. It’s time to tighten the belt!

Manage Your Credit Card Debt

Sounds like you need a plan to immediately start managing your credit card debt. You should begin by organizing your credit cards. Make a list of the cards and their balances, required monthly payments, and the interest rate charged for each card. Once that’s in place, check out these tips to pay off your credit cards:

#1: Tackle the Card with the Highest Interest Rate

The general rule of thumb is to pay off the card with the highest interest rate first. When you’re done paying that one off, tackle the next one in line, and continue this until they’re all paid off. However, another line of thought is to pay off the card with the smallest balance, which will give you a sense of accomplishment.  

 

how to pay off high credit card bills

 

You might also consider applying for a credit card with a low-interest rate or better yet – a credit card with a zero percent interest rate. You can then roll over the balance from the card with a higher interest rate, also called a credit card balance transfer. But be sure to read the small print.  Some cards offering low or zero percent interest rate, do so with a promotion. Be sure to pay off the balance, before the promotional period ends.

#2: Stop Using Your Credit Cards Immediately

This may sound like a no-brainer when trying to get out of debt, but many people have trouble letting go of their credit cards. You see something you want or need, so you whip out your credit card and buy it. Back away from the credit cards. Studies show that people tend to purchase more when using credit cards, as opposed to using cash.

#3: Consolidate Credit Card Debt

Consider getting a credit card consolidation loan. Here’s how it works: instead of making multiple monthly payments, you will have to make only one payment into an account. And get this – your overall debt will be lower because the company negotiates with your creditors to accept less than what’s owed, and then pays them from your deposited account until the debt is resolved. No more stress.

 

how to pay off credit cards

 

Call Experienced Debt-Relief Experts

If you want to learn more about how to pay off credit cards, contact the debt relief experts, and get help from one of our experienced financial counselors.  Call Your Consumer Services at 866-858-3384 and let us help you get started today. Erasing or reducing your credit card debt is just a phone call away. Imagine the good sleep you’ll start getting gain, once you know you’re handling your debt, the right way.

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