It's no secret that the economy is on a scary slide. One up side to this is that you may be able to negotiate your credit cards. I had a 19 percent credit card and called them mentioning that I was receiving offers for under 10 percent regularly in the mail. They promptly lowered my interest to 8 percent. So, don't hestiate to call your credit card company to discuss things with them and lower your interest if possible.
My next step is to call the card I have with a 13 percent interest to see if they will negotiate. In these times, banks don't want to lose you so if you are paying the minimum you can be a good candidate for them.
Obviously, the best way to deal with credit card is to pay it off as best you can. For instance, adding a little bit more to each payment than the minimum credit card requirement is helpful. If you still have equity despite the housing drop rates, you can find out about getting a home equity loan. This would make sense if you have high percentage credit cards that you can't get them to lower your rates on.
Another way to work on credit card debt is really looking around your home for items you can sell. What can you sell on ebay or put on craigslist? Don't forget there is a barter section on craigslist, so you may be able to get a trade for work on your home or car repair that way. That is a savings. If you can pay your cards down a bit this helps and if you have a skill that is needed in this economy, picking up a part-time second job can be a good idea.
Use a debit card from your bank to be sure you don't add to the credit debt you already have accrued. It isn't always easy to cut back on things but there are now lots of deals for cell plans and cable tv etc so actually some prices have been significantly cut for consumers.
My next step is to call the card I have with a 13 percent interest to see if they will negotiate. In these times, banks don't want to lose you so if you are paying the minimum you can be a good candidate for them.
Obviously, the best way to deal with credit card is to pay it off as best you can. For instance, adding a little bit more to each payment than the minimum credit card requirement is helpful. If you still have equity despite the housing drop rates, you can find out about getting a home equity loan. This would make sense if you have high percentage credit cards that you can't get them to lower your rates on.
Another way to work on credit card debt is really looking around your home for items you can sell. What can you sell on ebay or put on craigslist? Don't forget there is a barter section on craigslist, so you may be able to get a trade for work on your home or car repair that way. That is a savings. If you can pay your cards down a bit this helps and if you have a skill that is needed in this economy, picking up a part-time second job can be a good idea.
Use a debit card from your bank to be sure you don't add to the credit debt you already have accrued. It isn't always easy to cut back on things but there are now lots of deals for cell plans and cable tv etc so actually some prices have been significantly cut for consumers.
SHARE
