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Top Tips to Get Out of Credit Card Debt

As you have noted in recent years, credit card debt has been on the rise with the average credit debt being around $9800. I decided to do this tutorial to help my fellow Americans who are trying to get rid of their credit debt. So what I will do today is help you lay the foundation for eventually paying off all of your credit card debts. By following these tips you can build upon them over time and eventually pay off all of your debt.

How to get out of credit card debt

First, by paying off credit cards, secondly, by ending the revolving door of credit, thirdly, by avoiding making minimum payments, fourthly, by throwing away the blank checks, and lastly, getting peace of mind on your terms.

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Paying off credit card debts

Try to pay off your entire balance, if you can, at the end of the month. If you pay off your entire credit balance at the end of the month you can avoid paying interest and possible late penalties.

So if you pay your credit card bill at the end of each month (by due date), hundreds to thousands of dollars in interest can be saved over a lifetime.

But most importantly over time you have to become a “free rider” or a “leech” as a credit card user. Credit card companies use those two terms to describe those credit card customers who pay their bills on time because if you pay your bills on time the card companies don’t make any money off of you.

in terms of interest charged and any fees or penalties applied to your account, the only way to avoid that is to become a “free rider” and a “leech” when it comes to the use of your credit card.

No more revolving doors

Pay higher amounts towards your balance, more so than the minimum balance. Stop carrying over the balance month to month; avoid paying unnecessary credit card interest.

Stop the revolving door and forgo interest and fees, this will save you time and money in the future.

Stop making minimum payments

Do not fall in the trap of making minimum payments as credit card companies want you to because they make the most money over time from people who make minimum payments. Credit card companies don’t want to help you by permitting you to make minimum payments but want to exploit you, by exposing you to financial insecurity through the unending cycle of debt.

If you make minimum payments, all of your monies go towards paying the interest; hence you never pay down the balance.

Cut up and throw away the blank checks

Never, never, never use blank checks that you get in the mail from your credit card issuer. Unlike your credit card in which you have an interest free grace period, whenever you use a credit card check your interest starts right away, you no longer have that grace period. So these blank checks are cancer don’t use them.

Peace of Mind on Your Terms

Once you pay off your credit card debt, you take control away from the credit card company. Regain control over your personal finances by arresting the unending cycle of credit debt.