Tip - 6 Smart Ways to Get Rid of Credit Card Debt Faster | slice.ca

If there’s any one item that will suck the life right out of your bank account, shred your budget and seriously damage your long-term savings goals - it’s debt. And the worst kind of debt is credit card debt.<br /><br />With annual rates of 20% or more, they’ll bleed you dry unless you take preventive action right now. So pay off that credit card debt as fast as possible. If you’re in deep, consider consolidating your debt with a low-interest line of credit or personal loan. And then cut up all your cards, save for one. And on that one, slash the allowable credit limit to the bare minimum - and never max out the card!<br /><br />Paying off large credit card balances that you’ve carelessly run up, especially over the holiday spending extravaganza, might at first seem an insurmountable task. But after you’ve put the brakes on your bad borrowing habits, and freed up some extra funds for the month, there are six tried-and-true tactics you can use to start chipping away at the debt mountain.
Tags: money