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To pay your debt fast, check if you qualify for a balance transfer card that offers a low or 0% introductory interest rate for the first six to 12 months. If you can get a good deal, move your ...
Putting $100 extra toward the 28.1% APR credit card would get you to the point where you’re able to start paying off the accumulated interest, though it would take 42 months to get out of debt.
If you had the average American's $6,380 credit card debt and your card had a 23% interest rate and required a minimum payment that's 2% of your balance, you'd pay $128 per month.
Debt consolidation can make it easier and less expensive to pay off your debt, but only if the interest rate of the debt consolidation loan is lower than the interest rates of your credit cards.
Possibility of paying off your credit card debt faster. Simplified management, with one monthly payment. Potential credit score improvement with on-time payments. Cons of debt consolidation.
If you’re carrying more credit card debt than you care to think about, you’re not alone. Among the generations, Gen Xers carry the largest average credit card balance of $9,123, with baby ...
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