22 Feb 2011

3 Kick Reduce Credit Card Debt

In the period in which everyone can easily make a credit card as now, consumers are increasingly free to buy consumer goods without realizing the high interest credit card. As a result, many consumers are caught in credit card debt. If you fall into this group, then you need to apply the following tactics to avoid telling you not to harassed by debt collectors.

1. Prioritize Largest Flower
Credit card bill will bloom and the flowers will bloom again. That's why, you must pay your bill in full. If not enough funds, prioritize to pay credit card bills from the bank that applies the highest interest, especially if you have credit card debt of more than one. For example, you owe 2 million dollars in bank A that applying interest at 10 percent and 1 million dollars in bank B, which charge interest of 8 percent. Repayment of debt means that you must prioritize the debts from bank A.

2. Bring Claims in One Account
If you owe credit card debt in several banks, move these bills in one of the banks that charge interest rates the lowest. You can also report on the credit card issuing bank that you want to move the credit card account due to high competition among banks that they usually dare to offer a lower interest rate.

3. Use for Durable Goods
Basically there is nothing wrong with the presence of credit cards as long as used appropriately and discipline pay. Use a credit card to pay for goods that provide more value even though you have paid off payment. For example, for education or buying a computer. Avoid swipe a credit card to pay for concert tickets, vacation expenses, or eat in restaurants.

What needs to be understood, credit cards are a way to borrow money from banks for 25-30 days. Take advantage of this time to pay credit card bills so that you are safe from the flower.


Jiox said...

nice tips friend, thanks :)

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