I Need Help with Credit Card Debt! (cont.)
Contributed by Melanie Vannuys
2) Stop getting the offers! You can force credit bureaus to stop selling your information to credit card companies - simply call 1-888-5-OPTOUT and request the forms.
3) ALWAYS pay more than your minimum payments! Credit card companies aren't out for your best interest by offering you a minimum monthly payment - they know the longer it takes you to pay off your balance, the more money THEY make.
4) Plan your attack! Don't just jump into your mountain of debt without some type of plan. Figure out how many cards you have, each interest rate, highest balances, etc. Then start by paying off the card with the highest interest rate, then the highest balance and so on until they are gone.
5) Reduce your interest rate! It is not a crime to contact your credit card company and negotiate your interest rates. You can do this yourself, without the costly "help" of a debt consolidation company.
6) Consolidate your credit card debt! Once you have planned your attack and know your balances and interest rates, it may be a wise move to transfer your higher interest rates and balances to a lower interest card and pay them off. Some cards will offer a 0% introductory interest rate for a period of time. Take advantage and get those bills paid!
