Take a good look in the mirror and tell yourself, "I will beat my credit card debt!" Then, follow these tips on how to get out of credit card debt.
Stop Charging! The first step is to stop using your credit card.
This may sound too obvious to mention, but it's not at all.
Even folks who are working hard on trimming down their debt fail to nip it in the bud.
Charging the things you need and want is a habit, and the first step you should take is to break this habit.
Only then can you start wheedling down your debt.
Make Payments Quickly Pay your bills as soon as you get them.
Putting it off until tomorrow might mean putting it off until next week, and each additional day interest is accumulating.
You can also get into trouble by putting it off, spacing it out, and then finding yourself facing late fees that don't help anything at all.
Don't Just Pay The Minimum Pay more than the minimum payment each month.
This may be a tough thing to do, considering that your debt is making your life a financial mess to begin with! But, if you only pay the minimum, chances are that you're only playing the interest and not the principle.
This is no way to escape it.
Take on a little extra work if you have to and pay a little extra each month on your balance.
But It's Too Overwhelming! Still overwhelmed? Does paying over the minimum sound like an impossible dream? If so, then you've got to negotiate.
Get on the phone and talk to them about lowering your interest rates.
They can do it, and sometimes it's just a matter of a simple phone call.
After all, you ARE a customer and they want your money, as well as your continued loyalty.
Watch Out...
Credit Card Companies Are Tricky! Resist all offers from the credit card company to delay payments or extend payment period! They'll act like they're helping you out, but actually they profit from it.
Extending your payment period means that they make more off you in interest, and that month you get off free may mean two more months of paying off these nasty credit card debts.