Americans have $1.13 trillion in credit card debt. Here are some expert tips to help pay yours off
Publishing timestamp: 2024-02-12 10:35:41
Summary
The article discusses the increasing credit card debt in America and provides strategies for paying off debt. It mentions the option of signing up for a 0% balance transfer credit card, refinancing into a lower-interest personal loan, or asking for a lower annual percentage rate from the card issuer. It also discusses two repayment strategies: the avalanche method (prioritizing highest-interest debt) and the snowball method (prioritizing smallest debts first). The article emphasizes the importance of choosing a strategy that is motivating and likely to be followed.
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Keywords: interest rates, inflation, credit cards, credit card debt, business news, transunion, federal reserve bank, investment strategy, personal loans, personal debt, personal finance, credit card debt refinancing, economic events,