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14Jan 2019

Quick Tip: Erasing credit card debt – WLS-TV


Nearly 2/3 of Americans may never know if or when they will be debt-free, according to a new study from creditcards.com.

There are a few things to tackle debt.

To pay down debt, you can use the snowball method to pay off your debt — attacking your credit cards with the least amount on them and then just pay the minimum on everything else.
There is also the avalanche method — attack all of your credit cards with the highest interest rates first and then pay the minimum on everything else.
You could also tackle it by doing balance transfers. There are offers where you may be able to transfer money onto another credit card and pay zero percent interest for a certain amount of time. This can save you hundreds of dollars.

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