Credit Card Debt - Phone Customer Service

Let’s face it: being buried in high interest credit card debt is not the ideal situation.

Unfortunately, millions of people find themselves in this position for one reason or another. If you’re one of them, it’s essential to focus on the many ways to manage your debt as to improve your future.

Here are some strategies to consider:

  • Use a balance transfer credit card. With this, you can transfer your high interest debt to a credit card with a zero percent interest rate. As a result, it’s much easier to pay down your balance in an efficient manner.
  • Pay more than the minimum payment. While there is nothing wrong with this approach, it doesn’t change the fact that you will continue to pay interest until your balance is gone. It may not be the ideal situation, but it’s much better than paying the minimum each month.
  • File for bankruptcy. Believe it or not, many consumers feel that this is the only way to escape high interest credit card debt. Although this approach can help eliminate some of your debt, it’s important to understand the overall impact on your finances.

The way you manage high interest credit card debt is your decision. What matters most is that you know your options, compare the pros and cons of each one, and make an informed decision.

In most cases, a balance transfer is the best strategy. This allows you to rearrange your debt as to avoid high interest charges in the months to come. Furthermore, if you can payoff the debt before the zero percent rate expires (typically after 12 to 18 months), you’ll never have to worry about interest charges again.

Managing high interest credit card debt is easier said than done, but it’s good to know that you have options.

Have you been faced with this situation in the past? What approach did you take to find relief? Share your personal advice in the comment section below.


Having trouble finding a balance transfer card? We would love to show you more balance transfers, however banks control which cards are allowed on certain pages. We recommend that you view balance transfer credit cards at CreditWeb for more options.

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