How to Pay Down Your Credit Card Debt
News from MyFox Los Angeles:

Updated: Friday, 20 Apr 2012, 11:11 AM PDT
Published : Friday, 20 Apr 2012, 11:11 AM PDT

(EndPlay Staff Reports) – Paying with plastic is a convenience that has led many buyers into massive debt. Making the decision to pay down your credit card debt is a step in the right direction, but it isn’t always easy to know how to begin. Which debt do you pay off first? How much do you need to pay each month?

When you’re serious about paying down your credit card debt, the first step is to stop charging. If you keep adding to the amount you owe, you will only dig yourself deeper into debt. To help bring your spending in line with your current income, create a monthly budget and make a commitment to follow it.

Even if you cut up your credit cards, you won’t get out of debt by making just the minimum payments each month. Those small payments go toward paying the interest of your debt, but they won’t make a dent in the actual balance. Once you begin spending within your monthly budget, you can use some of your savings toward making larger payments on your credit card debt.

If you have multiple credit cards, you will have to decide which ones to pay down first. Start by making a list of all of your credit cards, the balances you owe and the interest rate on each card. Generally speaking, it’s best to pay off credit cards with the highest interest rat…………… continues on MyFox Los Angeles

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How to Repay Credit Card Debt at Lower Rates
News from LoanSafe:

(Source: Bindisha Sarang Mint, New Delhi (MCT) — If you’ve gone overboard on your credit card and are finding it difficult to handle the bills, a balance transfer may work for you. However, here’s a word of caution: what we are suggesting here is only an option and should be exercised once in a while. If you get habitual to it, then it may eventually get you into a debt trap.

We join two friends, Sid and Sam (two fictional characters created by Mint Money) in their conversation to know more about credit card balance transfers, how they work and things to keep in mind while using the facility.

Sid is sitting rather dejected, staring at his credit card bill, when Sam walks in.

Sam: So you are still staring at your girlfriend’s “am breaking up with you” letter?

Sid: No. This is worse. It’s my credit card statement.

Sam: Oh, and what does it say?

Sid: I went overboard on my card, due to that foreign trip, the digital camera I bought and that iPad I could not resist. I don’t know what I was thinking then?

Sam: Well, you were not t…………… continues on LoanSafe

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