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A balance transfer credit card offers a way to pay down high-interest debt within a 0 percent introductory period, helping you to consolidate and pay off what you owe faster.
For example, if you transfer $6,000 in credit card debt to a card offering 0% intro APR for 18 months, you could pay off the full amount by making $333 monthly payments with no added interest charges.
If you have, say, $600 per month you can budget for paying off debt, you would use the majority of those funds to pay off the highest-interest debt first. Once that debt is paid off, you can focus ...
Avoiding interest makes it much easier to get out of credit card debt. Click here to learn more and see our list of the best balance transfer cards , with 0% intro APRs lasting as long as 21 ...
Image source: Getty Images. When you have $10,000 or more in credit card debt, it's a serious financial issue. The average interest rate is currently 21.51%, according to Federal Reserve data.
Bankrate insights. If you have more credit card debt than you can handle, you have some options: Stop paying your credit card bill: If you opt for this approach, the debt is turned over to a ...
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