Tips to Stay on Top of Bills and Manage Credit Card Debt

Posted by: Sally S. | Jan 19,2008

Stay on top of your bills and manage your credit card debt with some helpful tips. It’s easy to fall behind on your bills, especially at this time of year. Holiday debt is coming due, and we’re faced with some of our biggest credit card bills of the year. But managing your finances is key to maintaining a solid credit score and a good credit history. What you can do to stay ahead of your credit card debt:

 

Pay more than the minimum on your credit cards to effectively manage your debt. Required minimum payments have increased over time and they’ll continue to rise, to about 4% of your overall credit card debt. Try to pay as much over the minimum amount due as you can to reduce your credit card debt and maintain your credit score.

 

Pay your bills before the due date to manage your credit card debt. If you’ve ever paid your credit card bill late, then you know the domino effect it can cause. Late fees, an increased credit card interest rate and a decreased credit score are just some of the aftereffects of not paying your credit card bills on time.

 

Compare and apply for balance transfer credit cards that will decrease your interest rate and lower your monthly payment amount. A balance transfer card offers a low interest rate for several months or more on balances that you transfer from high interest credit cards and loans.

 

 

Sponsored Resources Ads by Google