It happens to all of us - something unexpected comes up and we have to use our credit card because we just don't have the cash on hand. And right or wrong, we also just have to buy the latest gadget and put it on our card. Unfortunately, when the bill is due the shine wears off fast.
If things are left to get too far out of hand, you can wind up with a heck of a lot of credit card debt with no easy way to get it paid off. You wind up paying a pile of interest, sometimes for years after you made the purchase. Fortunately, there are places you can turn for help.
The first step you probably want to take is to call you credit card company and request a lower interest rate. You can approach this in a couple of different ways. First, just call and ask.
They'll tell you within seconds if you qualify for a better rate or not, and you'll be surprised at how often you will get it simply by asking.
The second way you can get a better rate is by applying for a new card that has a better interest rate than your current one. You can then transfer the balance from the higher rate card onto the lower rate one and save the difference in interest.
If you still can't stop yourself from spending money on your card you might want to look at credit counseling. There are lots of services that will work with your creditors to get you a more reasonable repayment schedule and/or a lower interest rate. They deal with these companies all the time, so they'll sometimes be successful where you might have failed doing it yourself.
The cost for credit counseling varies. In some cases, it's a free service where you won't have to pay anything. You simply provide them with all your credit card information and any other creditors you owe money to.
They can take that information and work out the most effective payment schedule for your particular situation. If you're feeling overwhelmed by credit card debt, don't keep struggling to stay on top of it. Talk to a credit counseling service and start to get ahead again.
If things are left to get too far out of hand, you can wind up with a heck of a lot of credit card debt with no easy way to get it paid off. You wind up paying a pile of interest, sometimes for years after you made the purchase. Fortunately, there are places you can turn for help.
The first step you probably want to take is to call you credit card company and request a lower interest rate. You can approach this in a couple of different ways. First, just call and ask.
They'll tell you within seconds if you qualify for a better rate or not, and you'll be surprised at how often you will get it simply by asking.
The second way you can get a better rate is by applying for a new card that has a better interest rate than your current one. You can then transfer the balance from the higher rate card onto the lower rate one and save the difference in interest.
If you still can't stop yourself from spending money on your card you might want to look at credit counseling. There are lots of services that will work with your creditors to get you a more reasonable repayment schedule and/or a lower interest rate. They deal with these companies all the time, so they'll sometimes be successful where you might have failed doing it yourself.
The cost for credit counseling varies. In some cases, it's a free service where you won't have to pay anything. You simply provide them with all your credit card information and any other creditors you owe money to.
They can take that information and work out the most effective payment schedule for your particular situation. If you're feeling overwhelmed by credit card debt, don't keep struggling to stay on top of it. Talk to a credit counseling service and start to get ahead again.
About the Author:
If you're looking for ideas for reducing credit card debt, surf on over to the Debtopedia website at http://www.debtopedia.com. We offer lots more helpful advice to pay off credit cards and other debts, while paying less interest in the process.
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