Everyone that has or has had a credit card has always asked themselves how the heck am I going to pay off my credit card, it has been a questions asked for many years and will be a question of card holders for many more. Luckly there are remedies to the your credit card debt that anyone who has it can apply to their situation as soon as possible, ways that you will avoid declaring bankruptcy with as well as saving your credit score from being messed up for the next 7 plus years. The details below will provide you with many different ways that you can use to pay off your credit card and put an end to the question of how am I going to pay off my credit card for good!
Pay Off My Credit Card – 5 methods to pay it off
Credit card payments don’t have to be an endless uphill battle if you know what to do to make them history. These payments are all free strategies, because at a point being overwhelmed by debt the last thing you want to do is pay money for a service. Here are 5 different payment methods that will get you out of the payment process:
- As soon as the question how am I going to pay off my credit card debt comes up, this is a great option to consider. As soon as you notice that your starting to have trouble with making payments or are feeling overwhelmed with how high the debt total is getting, immediately start using your credit card only for emergencies. Try as hard as you can to carry cash only, or this isn’t an option that your aren’t comfortable with then get a debt card and keep the cash in there.
- In the event that you have multiple credit cards, there are services out there that you can search for that allow you to transfer all of your cards to one card with zero interest, saving you a lot of money in what you would pay for interest each month and using that money saved towards paying your debt off.
- Do everything in your power to pay MORE than the minimum payment. The minimum payment is set as low as it is one purpose because the credit card companies know that at low of a payment it is going to take years. For example say you are paying a 30 dollar a month minimum payment with an 18 percent interst rate on a 1200 dollar debt, it would take you almost ten years to pay this off. If you tweak you monthly payment by just 10 dollars you it will cut the original yearly total by 2/3 leaving your with only a little over three years of credit card payments. This can be played with also on a credit card minimum payment calculator and is a very powerful tool to use to show you how much time and money you can save by upping the monthly payment.
- Although it sounds pretty cliche, creating a budget of your monthly expeneses is an excellent stategy when asking how you are going to pay off my credit card debt. Monitoring what you are spending will allow you to pick out a couple of things that aren’t must do’s and use that saved money to pay off your debt. You can also alternate these leisure activities each month so you don’t take one of your favorite things to do off the list for good.
- The last great method you can use to get the debt knocked out once and for all is to set payment on a automatic withdrawl method where it comes out of your account whether your remember to pay or not. This will keep you on top of things and keep you away from any late fees and keep you from sinking deeper into debt.
Pay Off My Credit Card – Conclusion
These are some great ways to pay off your credit card and they are all free ways that you can apply today if your goal is to pay off my credit card as fast as possible which is exactly what your credit card company doesn’t want you to do.