In these times, almost everyone has credit cards, but paying them can be quite a headache. While some of us wish that they’ll just disappear, most of us wish that the credit card companies would simply forget us.
Here are seven suggestions to help you on how to pay off your credit card debt:
1. Gather all your credit cards.
2. Arrange them in order from highest interest rates to lowest interest rates. Or you can just simply put them in order from the ones that you have to pay more on, to the ones that you have to pay less on. Let the highest debt that you have be your top priority to get out of your debt fast.
3. Make a budget for paying them off. It doesn’t matter if your budget is big or small. The important thing is you pay them off before the due date. Also keep in mind that while you’re doing this, you should only buy the necessities.
4. You can hide the cards you have with the highest payments. This is a way to avoid the same payment problems again and again.
5. Keep doing this until you have paid off all your debts. It may take some time, depending on your debt, but “determination” is the key to how to pay off your debt.
6. If you can get a bank loan with a lower interest rate, you can use this to pay off the credit cards. However, make sure that you don’t just use the loan to pay the monthly payments as this will only make the problem worse and won’t help towards a solution.
7. When you have paid off your credit card debts, I would suggest hiding, getting rid of them or cutting up the credit cards that have the highest interest rates. This is, of course, unless you can pay them before the due date. You could even call the credit card company and ask them if they can lower the interest rate.
Other great tips on how to pay off your debts:
While that little magic plastic thing can help us buy things, always remember that at the end of the day we have to pay for it. Being responsible on how to use them is one of the most important things that you can keep in mind. Remember the old rule: “Buy only the things that you need, not the things that you want.” And before you buy something, even if it is expensive or cheap, think first if you can pay the credit card before the due date of the card. If you are the original credit card holder and you have another person on it, remind them to use the credit card as little as possible. Having two cards may be a good idea, but it’s not the best idea. The other person may have a tendency to buy things that aren’t necessary. You can always ask for help from your family members or friends for advice on debt relief solutions.
Also try and look for the best deals or sales, even on your basic necessities. Know where you can get the best deals. If you know sale cycles you have a better chance of shopping on sales. Use loyalty cards and coupons. But this should only be on items you really buy.