6 Ways to Cut Credit Card Debt

 

6 Ways to Cut Credit Card DebtDoes your credit card debt seem overwhelming? Don’t panic. You can overcome your credit card debt with a little planning and action. Here are some tips to help you cut your credit card debt.

Negotiate With Credit Card Companies

Credit card companies are businesses first. Their main concern is getting paid. If your current terms make it impossible for you to make payments, call your credit card company and try to renegotiate your terms. You never know what you can get if you don’t ask.

Pay More Than The Minimum

If it is possible, pay more than the minimum required payment. Paying more than the required minimum payment will allow more of your payment to go towards your actual balance instead of just going towards interest. When you pay the minimum payment, most of your payment will be going towards the interest.

Spend Less Money On Nonessential Items

We all have things we spend money on that we don’t really NEED in order to survive. I’m not going to sit up here and tell you what those things are. That list is different for each individual. However, if you’re willing to go without these things for a while, you may be able to come up with enough money to pay off your credit cards.

Find A Way To Bring In More Money

You can also cut your credit card debt if you find a way to make more money. Maybe you can get a second job. Perhaps you can start a part time business using some marketable skills you have. It will be hard work, but it is only temporary. You will only be working this hard until you pay off your credit card debt.

Paying off credit card debt can seem like an insurmountable task. Take small steps. Use some of the ideas given in this article to help you get closer to your goal of having zero credit card debt. It can be done. You just have to be patient and take action.

Andrea is the Chief Chick of Smart Money Chicks. After filing BK twice (once because she panicked, second time because the pro messed the first time up), she realized that it all could have been avoided if she understood more about how her Finances worked and the options available. At that point, she wanted to help as many as she could never make the same mistakes again. Our Promise is that all the content you read on here is created or edited by Andrea

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