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Free tips to get your credit cards under control
By Adam | January 5, 2007
Free tips to get your credit cards under control
- Different credit cards have vastly different fee structures. A rewards card that gives you points toward air tickets or a new car, for example, probably levies an annual interest rate of 18% or so on balances and an annual fee too. If you’re in deep, dump such cards and consolidate balances on one low-rate (12% or so), no-fee card.
- Create next year’s holiday budget now, while the pain is real and your memory fresh. Inventory what you spent and who you spent it on. Cut names where possible, and reconsider the amounts.
- Cut current expenses now to accelerate paying off your balances. Skip the daily trip to Starbucks. Eat out less. Exercise some discipline on your cell phone. Quit smoking. You’d be surprised how much you can save this way in just a month.
- Over the next three months, keep careful track of your spending. Then review it and look for places that you are spending more than you figured, and make some adjustments.
| 12 Tips to Get Your Credit Cards Under ControlMinyanville.com, New York - Jan 4, 2007
Besides, carrying a balance on a credit card that has a low limit can lower your credit score. Automate your payment schedule through a recurring online … |
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Topics: Credit Repair, Fix bad credit, Pay Down Debt, Pay Off Bills, Reduce Spending, Repair your credit |