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10 Steps To Tackle Credit Card Debt Problems
First of all you need to know you are not alone when it comes to fighting the credit card debt problem. So take comfort in recognizing you are one of many. In fact chances are, that there are plenty of others, that have a far worse credit card debt problem than you, and just like you, they are all looking to eliminate the credit card debt problem. Wondering what the secret is to your credit card debt problem ?
The solution goes like this Ė tackle your credit card debt problem full on and with all youíve got. Donít stop until youíve won back your freedom from debt.
Now how do you do that ? Actually there are plenty of ways to attack your credit card debt problem. Different individuals will suggest tackling your credit card debt problem different ways, but here is a simple method to get rid of your credit card debt problem.
1. Start by taking stock of your own situation. Itís time to make a list using the following fields Ė the name of the credit card; the balance owing; the date payment is due; the Annual Percentage Rate (APR); any rewards points earned/used.
2. Now you need to fill in the data for your table for all your credit cards, giving you an up to date snap shot of where you stand.
3. Figure out which credit card has the highest APR, the highest outstanding balance, or anything else that needs to be noted.
4. Check to see if you can use any of your reward points as a partial payment, for any fees incurred. If you can trade off points you save some money.
5. Draw a comparison table of the offers that are available to eliminate your credit card debt problems. For example balance transfer or loan consolidation.
6. Start by eliminating debt on the credit card that is contributing the most to your credit card debt problem.
7. Put most of your debt on the Credit Card with the lowest APR, so you pay less interest on your Credit Card Debt.
8. Start to practice controlled spending habits buying only items that you need, which will definitely help with your credit card problem.
9. Always look for other ways to add to your income, because that extra income means a reduced credit card debt problem.
10. See your debt reduced over time and when the moment comes, that you have put an end to your credit card debt problem make sure that you celebrate.
The above 10 step plan is just one solution to your credit card debt problem. You might come up with your own plan that works great for you in reducing your credit card debt problem. Any method is excellent if it meets the objective of taking care of your credit card debt problem.
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