Tips for consolidating credit card debt

If you’re juggling multiple credit card balances and want to pay down your debt faster, it might be time to consolidate your debt.By merging your debts onto a balance transfer credit card, you can reduce the number of payments you’re making, save money on interest, and finally get rid of your debt.The content is not provided by the advertiser and any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone, and have not been reviewed, approved or otherwise endorsed by any bank, card issuer, airline or hotel chain.

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The Barclaycard Ring™ Mastercard® is a great card for debt consolidation because there is no annual fee or balance transfer fee.

You’ll usually still come out ahead even with the fee, but be sure to check.

Most importantly, you need to have a plan for how to get out of debt and stay out.

So this is a good card to consider even if you don’t think you’ll be able to pay off the entire balance within the intro period.

Its APR is likely lower than what you currently have.And don’t be tempted to use your newly freed up credit lines to rack up yet more debt.If you do that, you’ll find yourself in a debt spiral.There are a few things to keep in mind when consolidating your debts.First, you’ll need good credit to get a good balance transfer deal.These offers can be a godsend if you’re ready for a change, but they only work if you make the debt repayment plan and follow through.

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