subject: Three Simple Ways To Reduce Credit Card Debt [print this page] With the economy the way it is these days, it is extremely easy to find yourself in credit card debt. Whether you were using those credit cards to get by when a financial issue arose or you needed them from time to time for extra expenses, the debt can be a problem. After all, with high interest rates and stiff fees, those credit card debts can seem almost impossible to pay off.
However, if you take action now, there are many different things that you can do to pay down credit card debt. Below, you will find three tips that can help you get your credit card debt in control and gain the financial independence that you need for your future.
1.Make use of a Red Pao registry for your next occasion. Whether it is a birthday, a graduation, a wedding, a shower or any event, you can set up a special gift Red Pao registry and make it easy for your friends and family to give money instead of gifts and you can use that money to pay toward your credit card debt. Since Red Pao is so easy to set up and to pay toward, you can even encourage out of town family and friends to use the site.
2. Pay more than the minimum payment each month. While this may stretch your budget a bit, you can make a drastic reduction on your credit card bill just by paying a little more than the minimum. Anything extra that you can pay will go a long way toward paying off the debt. In fact, if you can add just $50 dollars extra to your minimum payment, you will see that reduce credit card debt start to drop.
3. Look for credit cards with lower interest rates. The reason it is so hard to pay down the debt is because most cards have a very high interest rate. You can put in a request for a lower interest rate with your current credit card or you can look for a new card with a low rate and transfer your balances. Usually, there are credit cards available with lower interest rates, but you will need to look for them.
If you have found yourself in a financial situation where you have credit card debt to manage, then you will be glad to know that there are ways that you can pay down that debt without it hanging over your head for years to come.
