The Best Payment Method to Use to Settle a Credit Card Debt
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by Mack Mitzsheva

Pay your debts on time to avoid additional interest and fees.

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A credit card lender may offer you the opportunity to “settle” your credit card bill. Settle means you pay less than you owe on the debt. This can help you take care of the bill while keeping more of your money in your own pocket. The best payment method to use will depend upon your personal preferences — but no matter which method you choose, when you make the payment to the credit card lender, do so in a manner that protects your bank account information.

Checking Accounts

A credit card issuer may offer to settle the debt in-house. In this case, paying with your checking account or debit card may be a convenient way to make a payment. If the debt has been placed with a collection agency, you may have to make your payment to…………… continues on Opposing Views

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Related News:

Credit Cards Begin Charging ‘Checkout Fee’
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NEW YORK (CNNMoney) — You might want to think twice before whipping out your credit card. As of Sunday, stores in most states could start charging you a “checkout fee” when you pay for something with plastic.

The new fees stem from a multi-billion dollar settlement announced in July between credit card issuers and millions of merchants.

Visa, MasterCard and nine major banks agreed to a $ 7.25 billion deal to settle charges that they were fixing credit card processing fees. As part of the settlement, credit card issuers said they would reduce these “swipe fees” — fees paid by merchants to issuers when cards are used — but only for eight months.

In addition, the settlement also gave retailers the option to tack on a surcharge if a customer uses a credit card. The retailer can only charge enough to cover the processing costs, which is about 1.5% to 3% of the total purchase, according to watchdog group Consumer Action.

This fee doesn’t apply to purchases made using debit cards. And it will still be illegal to charge the new fee in 10 states, including Kansas, New York, California and Texas.

Many big players in the retail industry have been up in arms about the settlement. Stores from the nation’s largest retailer down to small businesses have lamented the agreement, claiming that it transferred the wrongdoings of credit ca…………… continues on

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