Credit – 9 ways to erase credit card debt

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You might save thousands of dollars in interest just by controlling credit card debt. Get started with these nine ways to erase your credit card debt fast.

* Find out how much total credit card debt you owe. Then figure out how long it will take to pay it all off – with the interest charges included.

* Transfer your high-interest-rate balances to one card with a low interest rate. Or pay off your higher-interest-rate credit cards first.

* Track your spending. You may be surprised at where your money is going. Prepare a budget that slashes unnecessary spending, and stick to it. Use the savings to pay off debt.

* Don’t just pay minimum every month. If you owe $1,000 on a card with a 17 percent interest rate, it may take 12 years and cost over $900 in interest by the time you pay it off.

* Never use credit card cash advances to make payments on other accounts.

* Stop using credit cards, and don’t open any new charge accounts.

* Always make payments on time.

* Get a second job to help pay off your debts.

* Try a credit counselor if you want outside help. Contact the National Foundation for Credit Counseling (NFCC) at 800-388-2227, or visit www.nfcc.org. The NFCC can provide credit education and counseling and help you get better terms with your lenders.



All the best,



Timben