How to Pay Down Credit Card Debt How You Can Improve Your Credit Score Here ph
Take a look at your credit card bills and tally up all balances from your credit cards. Spend less. Avoid making purchases on fast foods, Starbucks coffee, clothes, and other discretionary spending. Don’t make any impulse purchases. Instead heading to McDonalds or Burger King, try packing lunch or cooking at home. Stay away from the plastic. Don’t add more debt to your credit card account. Don’t use your credit card for your everyday purchases. You’re just going to keep on adding more debt and it will take years to pay that debt off. Try using cash or a debit card. Bank of America offers the “Keep the Change” program where you can use your check card to make your purchase and they round up the nearest dollar amount and transfer the difference from your checking account to your savings account. For the first three months, they will match the Keep the Change savings and after that they will continue matching five percent annually. I recently found out that they are matching mine ten percent a year. Don’t just pay the minimum balance. That’s what the creditors want. Pay more than the minimum balance by doubling it or paying an extra $5 or more. If you pay just the minimum balance, it take years to pay off that credit card debt including the interest piled on. Call your credit card company and ask if they can lower the interest rate or the annual percentage rate (APR). Try Dave Ramsey’s Snowball method to pay off the lowest balance first and then continue to the next balance until it’s all paid off. Create an excel spreadsheet that has the balances, the interest rate, and the minimum payment. This is can help you keep a track on your credit card debt. Add extra income. There are so many ways to make extra money and apply it to your debt. You can sell your stuff at Ebay, Half, and Amazon. You can write articles in sites such as Associated Content, eHow, Bukisa, and etc. You can also join Inbox Dollar, they pay you play games, do surveys, and they give a $5 bonus for joining. I recently made $6.86. Another one is Slicethepie, where they pay you to listening to new artists and review them. Try a weekend job, a seasonal job, a part-time job, or any freelance work. Save your loose change. Put your change in a jar or in a piggy bank and do it frequently until the jar is full. Separate your change into dimes, pennies, quarters, and nickels and put them in
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coin wrappers. Go to the bank and deposit it into your account. This can be used to pay it towards your debt. Please share your thoughts on this by posting a comment below and I'll send you a free gift.
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Do's and Dont's of the Credit Card Game Here pf Futhermore: How to Pay Down Credit Card Debt
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