Consolidate your credit card debt

FinanceMortgage & Debt

  • Author Janet Williams
  • Published October 11, 2005
  • Word count 519

Consolidate your credit card debt

With the popularity of plastic money these days, credit cards are gaining

immense importance. With growing usage of credit card the number of people in

debt and the amount of debt for each of them is also increasing at a fast pace.

Almost every household in the US today is undergoing the threats of debt

problems. People undergoing credit card debts should ideally opt for debt

consolidation in order to lead a debt free life. In the US more than half of the

population has an average of $8000 debts, only because of the usage of credit

cards.

You must be eager to know:

• How is the process of debt consolidation beneficial to settle credit card

debts?

• How is it useful to consolidate my credit card debts?

A credit card debt consolidation loan can be a resource to consolidate the

outstanding balances on your cards into one single loan. They can also be

transferred to one single card that has a lower interest rate than the ones you

are currently paying. The path to savings should be very cautiously chalked out

and one needs to make calculated moves all the time. It is advisable to opt for

credit cards with low interest rates rather than paying high interest rates for

some credit cards. Calculate the interest on your credit card debts and transfer

it accordingly. We offer free membership.

The ideal way to consolidate your credit card debts!

For better understanding find out how consolidating your credit card debts can

be helpful.

Let's say you have $100 in outstanding credit card debt and the average annual

percentage rate (APR) on that card is 18 %. If the outstanding balance remains

at $100 then over the course of a year you would pay approximately $18 in

interest charges alone. If you consolidate your credit card debt into a single

loan with a lower interest rate or if you do a balance transfer onto a credit

card with a low interest rate you would save a significant amount of money.

If the new loan or credit card have a 9% APR then you would save roughly $10 in

interest charges over the course of that same year. If you save $10 for a debt

of $100, then think about a debt of $10,000. This trick will save you $1,000

over the course of that same year. Just think of $100,000 debts; you can save

$10,000. And this amount of $10,000 can be used to repay some of your debts.

Life becomes easy with simple calculations and cautious moves.

If you are undergoing major debt problems feel free to contact us. Our experts

will help you to consolidate your debts and restore your financial position.

Consolidating your debt is perhaps the fastest, safest and best way today to get

rid of your financial obligations and we are experts in this field. Fill our

free membership form to view all the alternatives. With debt consolidation we

are here to consolidate all your financial loans in a single monthly payment. We

help you in your journey towards being debt free. You can take a look at the

following articles

Credit card terminology , 2)

Credit

counseling

Janet Williams is a contributing writer to [http://www.debtconsolidationcare.com/](http://www.debtconsolidationcare.com/)

and is currently working on a special section in the site called do it yourself

where you can eliminate your debts and become debt free.

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