The Best Credit Card Has a Zero Balance: How To Pay Them Off

We are all tempted by low introductory interest rates on credit cards, but the interest rate is irrelevant if you don’t carry a balance on your credit cards.  A zero balance is the best balance, so here’s how to pay off your credit cards:

First, set your financial goals and write them down.  Your goal might be “to pay my minimum payment plus $200 each month on my Visa card, so that it’s paid off within 10 months.”  That’s a good, achievable, measurable goal.

Second, use your goals to make a household budget.  Look for ways to cut expenses, and then use that money to repay your credit cards faster.

Next, pay off your highest interest credit cards first.  This is key. Many people pay off the lowest balance first, just to get rid of it, but that means you are paying more in interest, so it will take you longer to repay your debts.

Finally, celebrate your success.  As you pay off your credit card, cut it up, or cancel it, or hide it so you won’t be tempted to get into credit card debt ever again.

If after all your efforts you are having a hard time keeping up with your monthly credit card payments then it’s time to talk to a professional. Contact our debt experts today and find a solution that will help you pay off your credit card debt without having to file for bankruptcy.

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