Low Interest Credit Card

If you have faced a challenging life situation that left you with a bad credit rating, there are routes back to solid ground. By starting fresh with a low APR credit card or credit card consolidation, you can actually repair and rebuild your rating. Card-issuing companies report to the three major credit bureaus each month. As you pay your bill on time, the bureaus will hear about it, and in this way you can improve your current standing.

There are a couple of steps you can take to improve your credit rating. One is to look into credit card consolidation, and the other is to compare credit cards for the best terms to help you get back on your feet.

Credit Card Consolidation Facts

One main way that people can improve out of control card balances is to consider credit card consolidation. Many people do this by taking out a second mortgage against the equity they have in their houses or their cars, and then taking that money to pay off the credit card balances. Not only does this wipe out your credit card debt, but you can then count your monthly second mortgage interest payments as tax deductible, unlike credit card interest payments.

Another advantage to credit card consolidation is that it allows you to pay one single payment rather than several smaller ones. That is a lot of time saved each and every month. Credit card consolidation can also be used to help you find a lower interest rate or to receive a fixed interest rate. Variable-rate interest cards are often based on a percentage rate plus the prime rate, so it can change from day to day due to variances in the prime rate. With a fixed rate, there are no surprises.

Compare Credit Cards to Find a Low APR Credit Card That is Right for You

Orchard Bank offers both MasterCard and Visa credit cards that will provide you with protection on your purchases. They also offer, in addition to monthly credit reporting, credit increases at regular intervals. They also give all their clients 24-hour online customer service, so that you can pay your bills and access your account anytime you wish.

Centennial Gold also offers a MasterCard/Visa that offers this under ten percent low APR credit card [http://www.consumercreditoutlet.com/card/0apr.html] for your purchases, and they also report to the major credit bureaus.

You will want to compare credit cards to find the best deal offered that will not only give you a low APR but will also help to improve your current credit score.

About the Author : Susan Slobac is a personal financial advisor specializing in helping individuals establish and improve their credit ratings and build assets. She often advises her clients on credit card consolidation [http://www.consumercreditoutlet.com/] strategies.

Credit cards are now essential for many people when it comes to paying bills, purchasing items, shopping, and the like. Using lines of credit is indeed very convenient rather than making cash payments. You just have to swipe them instantly and you are done.

There are several advantages to using cards instead of cash. One example is you have easy access to services and goods because visa and MasterCard are accepted widely and even internationally. In addition, using credit cards is an effective and safe way to keep track of your finances.

However, having and using credit is not that easy. You have to know a lot of methods when using your plastic. One specific method would be the credit card balance transfer. This allows the a cardholder to transfer his current balance to another card. There are many companies that offer low APR credit card applications to encourage clients to sign up for them.

Most credit card companies offer balance transfer credit card deals that will help you save large amount of money in interest payments. Searching on the web is the easiest and most convenient way to look for reputable banks that offer enticing choices you can choose from.

You should read terms carefully and make sure you would be able to save more than with your previous one. Some card companies even offer APR balance transfers with 0% interest. However, their annual fees cost too much. So you must be careful and be practical when choosing the right company. You should also make sure that your balance transfer does not go beyond the limit of your new credit card.

Christian writes for Credit Cards Truthiness and provides you with current news and information in the Credit Cards industry.

The cheapest credit card is not necessarily the best. Not only this searching online can be complex with so many rates, costs and credit card features to consider. Many companies offer reward cards which provide a variety of benefits from air miles, travel insurance and even cash back on purchases.

Finding the cheapest credit card will largely be determined by your financial situation and the purpose of the card. However there are a number of things you need to be aware of and tips you can learn so you can better protect yourself and take advantage of the benefits credit cards have to offer.

Things to Look Out For

Some cards offer low introductory interest rates which rise after 6 months. Others offer low balance transfer rates which expire after 6-9 months. Make sure you are aware of how the rates will change so they do not conflict with the way you intend on using the card
You should carefully consider what you may be buying over the next 12-18 months. If you are saving up for a holiday you can apply for a credit card which allows you to build up air miles. When you are applying for an air miles card take into consideration how much you have to spend on the card before you have enough miles to buy a return flight from your chosen destination
Cash back credit cards are ideal for high spenders as you receive back a small percentage from purchases. This is obviously great if you spend thousands every month but might not be as suitable if you only spend a small amount
You may want to buy an expensive television or sound system in which case you can apply for a card which provides additional years product cover over and above the standard 1 year manufacturer’s warranty. This will save you money as many retailers charge extra for additional cover
If you are planning on travelling frequently some cards allow you to withdraw for free from ATMs abroad. In some cases they do not even add hidden fees to the exchange rate, which is great if you want to exchange money easily when you are on holiday
Did you know that by law if you buy something with your credit card which costs more than ?100 your credit card company is jointly liable with the retailer? This means if the retailer goes bust or you cannot contact the retailer for some reason you can contact your credit card company for money back or compensation

Credit Cards Are Changing

The government is set to introduce new laws by the end of the year, which will prevent companies from using customers’ payments to clear balances attracting the least amount of interest before more expensive debt.

This is known as ‘negative payment hierarchy’ or cheapest debt first payments. Here is how it works, you have a ?1,000 balance transfer that is interest free for 12 months plus a ?500 purchase balance earning 18% APR. Due to the negative payment hierarchy, you will need to make two months’ payments of ?500 before your balance transfer is paid off. As a consequence your ?500 purchase balance is attracting interest of 18%.

However even though this ban will mean consumers are better protected against this trick it does mean companies will no doubt attempt to recoup lost revenue in other areas. This will probably be in the form of higher interest rates, annual and balance transfer fees.

Finding the cheapest credit card or the card with the best reward features can be tricky. The best way to do this is to compare cards and review their features individually against your specific requirements.

Cheapest Credit Cards compare the best deals and save money.

If You Are Approved For a 0% APR Intro Rate Make Sure You Use It

Credit card companies like Visa, Mastercard, American Express and Discover all have some type of 0% APR introductory rate program. There is nowhere else where you can use other people’s funds without being charged interest on it. At the time of approval for a card certain ones (depending on their terms and conditions) will grant you an intro APR rate. These invaluable intro APR rates span 3-12 months time depending on the kind of card that you are approved for. You have got to stay focus on digging a hole for yourself with such a great interest rate. Control your spending.

Spend too much and you could end up using up your entire credit line

A sure sign of card indebtedness is when you have hit the limit on your card and the intro interest rate has expired. You are stuck with a card that has a high balance on it and at the regular APR? You’ve gotten yourself into a hole that the companies love to see? Do you realize the importance of being responsible with your shopping and spending habits? Let this be an example of what could happen to you? Don’t end up like others who end up spending like crazy trying to take advantage of the intro rate.

People may overlook this but if they already carry a high balance on another card BUT they are approved for a new card with an 0% intro rate they can use that to their advantage and start paying down their debt. With the card that you already carry a balance on stop placing any new charges on it and move those normal, everyday charges to the new card. Start putting more funds towards paying down the older card that has a balance to reduce your interest payments. Each month you will be reducing your debt and by the time the intro APR is up you will have paid down a lot of your debt. Other than just having 0 credit cards APR rate you may want to compare the additional features the cards may offer. Each card that you apply for is unique in that they may also offer gas rewards, airline miles, cash back bonuses and points. The terms and conditions of the card will tell you what additional benefits there are available for card holders.

Credit card issuers focus on one’s credit standing and credit score before they approve them for any type of revolving credit

Get a glimpse into what the card companies see by checking your credit report. If you are serious about qualifying for a specific credit card you should run your credit yourself. If you find any errors in the report you can have them removed by disputing them. You will see your credit report and credit score improve one these discrepancies are removed.

Getting Approved For The Card That You Want

Other than the thrill of swiping a card getting approved for a particular card that you have researched is also quite a rush? You may end up receiving your card within the week with your approval. Check the card issuer’s site to have an idea of the total amount of money you have charged each month. Pay down as much as you can each within your introductory period so that you balance doesn’t continue to increase too quickly.

A Way To Pay Down Your Credit Card Balance With The Intro Rate

Looking at your introductory rate period you can also split that time period in half and begin setting a monthly amount to pay down the entire balance before the intro rate expires.

Nevertheless, you can put yourself in a very good financial position when you have a zero percent credit cards Intro Rate.

Looking for the best credit card offers? Compare credit card rates from the top card companies across the US.

View low credit cards, transfer balance credit cards, cash back card, rewards cards, student credit card, instant approval credit card and more

Sort them by Intro APR, Intro Period, Regular APR, Annual Fee, Balance Transfer and Credit Needed.

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Many consumers may have racked up their credit cards during past months to make ends meet, or carry them over through a time of unemployment, and now the monthly payments are taking a lot of the income they have coming in. As long as you have maintained making timely payments on your accounts and not taken them all to the limit, your credit rating may be such, that other companies are offering low APR credit cards to you in the mail and you are tempted to apply.

There are several things to keep in mind with low APR credit cards. Most of the time, if you read the entire offer, you may find they have a “processing fee” of $79, or an annual fee of $59, plus whatever interest rate enticement they are offering. Many times the 0% or low APR credit card, only offers that for a set term, such as the first six months or year after you open the account, and then the rate may skyrocket up to 30%.

By using a strategy of paying off your existing, highest interest rate credit cards first, you can reduce your monthly debt, so if you take advantage of the low APR credit card, the thing to keep in mind, is that the goal would be to pay it off with the initial low rate offering. If you transfer your highest interest rate card balances to the new low APR credit card, and pay it off during the initial term, you will have succeeded in paying off some of your credit card debt, and reducing your monthly payments.

Many people make the mistake of opening the low APR credit card, in addition to their regular credit card debt, and then use it for unnecessary purchases, and the next thing you know, they have maxed out the new card, and six months later, have even more debt than they started with. This is how many consumers find themselves in bankruptcy. Basically, if you are using the credit cards to buy necessities, you are already in financial trouble, or upside down in your income to expenses. If you are using credit cards to buy unnecessary indulgences, then you need to exercise self-discipline and stop.

Credit card usage can be like a bad gambling habit; you rack up a bunch of debt and have nothing to show for it. By using a credit card and not being able to pay it off in full each month, you are paying not only retail for an item, but maybe twice as much as if you would have bought it for cash, by the time you pay it off.

Sometimes, low APR credit cards get a bad rap, like they are scamming you into opening an account with a low APR, and then sock it to you with high interest rates later. The burden lies on you- reading all the small print, processing fees and annual fees, and paying off any purchases of balance transfers before the initial low rate period is over. If you do that, then a low APR credit card will truly help you lower your monthly expenses and help you pay off debt.

Low Apr Credit Cards [http://www.creditcardinfoblog.com/credit-cards/understanding-the-power-of-low-apr-credit-cards] are a great way to control your Credit Card interest expense. For more Credit Card Tips, Please visit my Blog at Credit Card Info.

Are your credit card bills piling up, with no hope of paying them off in sight? Do you have other debts with high interest rates or high payments? If this sounds like you, a low rate debt consolidation loan may be just the thing to get you back on your feet, financially speaking. Here is some information on low interest rate loans for debt consolidation.

Many people are looking for a better way to manage their debts. Having lots of different payments is a hassle and can add up to more than you can afford to pay. Consolidating your debts into one low monthly payment is an ideal situation for almost any consumer. But you may be asking yourself, how can I make this happen? Well, have no fear. There are several low rate debt consolidation options available.

If you are a homeowner, probably the best way for you to get a low interest loan is to use your home as collateral. A home equity loan will give you the lowest rate possible to be able to pay off those higher interest rates, and may also lower your payment significantly. Many people are leary of using their home to secure a loan, but getting a lower rate with a good payment may mean the difference between financial success or possible bankruptcy for some people. Using your home is truly the best way to secure a low interest rate loan for consolidating your debt.

If you do not own your home, or you do not have the available equity, you can also choose to get an unsecured loan. These loans are generally higher in rate, but may be lower than the credit card rates that you are currently paying. Check out several different lenders before putting in an application to see who is offering the most competitive rates and side benefits.

Another option is to use a debt consolidation company. These companies do not create another loan, generally. Instead they negotiate with your creditors for you to lower interest rates and reduce fees. You pay them a set amount each month, and they distribute it among your creditors. This can be a good option for people who have poor credit or have a lot of fees on their current debts because of late payments.

You could also utilize the many credit cards that offer zero percent interest for a certain period of time. It is a good idea to transfer higher interest rate credit card balances to these cards, and then pay them off as quickly as possible. If you pay the balance off before the introductory period is over, you will have saved yourself a lot of money!

Getting a low interest loan to consolidate debt is a good idea for many people. Because there are so many choices available, almost anyone can get a loan that will help better their financial situation. Consider all of your options before you decide, and only get a low rate debt consolidation loan if it can meet your specific needs.

Read on to learn whether a low rate debt consolidation loan is right for you or not, plus get more tips to find reputable debt consolidation lenders (and make them approve your loan application).

Think of it this way: you’re starting a new business and are strapped for cash. You’ve got very little capital riding on this but you’re wary about taking out another loan that could possibly mean higher interest on your mortgage or other loans that you already have. You could simply be wary about owning another creditor money. There are so many ways for you to fund raise for your business, but there is one, almost-secret way that you might not have thought about.

Essentially, a credit card is a loan. It’s an understanding between you and the creditor that you are buying things for free now but will be paying them back later. Late payments often mean increased interest and fees that may or may not break your bank. But this is only because you didn’t pay them back on time.

Have you considered using your business card as an extra loan to help your start up costs? Think about it. It’s still money; it can still buy supplies and pay for expenses and daily costs. More than that, it’ll help you manage your business more effectively as well as provide a whole lot of benefits for you and your new company.

There are so many advantages to using business credit cards for small loans for your business. Your credit limit can double as a loan limit. Where else can you get low-rate or zero interest on a cash loan? It’s certainly unheard of to get a loan below 3%! No matter how bad your credit rating is, this can be a really good deal that can solve your money worries. This can help you build your business and sustain it for the future! Once you pay them back, you can even use this to establish a better credit rating for yourself and your business.

Business credit cards rarely have an annual fee and should have low interest rates. They’re specifically made for the savvy business owner.

They offer many rewards and benefits that you can take advantage of. They can help you build up your business, keep track of expenses and know where most of your money is going. Because it is a credit card, you’ll know exactly when and where this purchase You can check daily expenses online and have a statement sent to your email or by snail mail every end of the month. This is a great way to know where you need to concentrate your resources. If you register your credit card with the credit card bureaus, it’s an excellent way to build up great credit for your company and yourself as well. The great thing about it is that you can continue to use the card even when your business starts turning a profit. You won’t be sorry that you’ve made this investment. Business credit cards are there to help you succeed!

For more information or to apply for a business credit card visit http://www.bizcreditcards.org

Credit cards are used as forms of payments now more than ever. Being a widely used at restaurants, hotels, mail order, on-line shopping, gasoline stations, grocery stores, dental and medical care, church bazaars, as well as telephone and television advertised products. They are truly convenient and help a lot in regular transactions. They are also ideal for making a payment online due to the protection provided by.

Credit

Credit cards act as a short-term loan if you find something you would like to purchase eliminating the need to carry large sums of cash. It’s a sweet deal if it’s properly used and today it can be even sweeter if you use cash back or a rewards card.

Most are issued by banks, stores and other businesses to allow people to buy things on borrowed money. They allow you to pay all or only a tiny portion of what you borrowed each month and can help you build a payment history.

These cards can let you choose how much you borrow and how quickly or slowly you pay back the loan. There is even credit counselors and credit repair clinics that can help customers who have gotten in over their heads.

Rewards

Rewards credit cards are constantly improving because it is how these companies compete with one another to gain new customers and to keep the ones they have. Most shoppers are comparing the points earned on various rewards cards, or the gift cards you receive.

Rewards cards don’t reward if you carry a balance from month to month. These cards are designed to “reward” consumers for their loyalty by giving something back to the cardholder; various rewards programs exist including points, cash back, frequent flyer miles or merchandise. While all cards sound great at first glance, it’s important to do a little in depth research on each before you select one. What you miss in the fine print might cause your card to reward the credit card lender instead of your wallet.

If you are carrying a balance from month to month instead of paying it off at the end of each month, you’re not likely to earn anything from the rewards after you pay out the interest.

Apr

Card deals are constantly evolving, so credit consumers who plan on signing up for a specific 0% offer they’ve had their eye on for a while shouldn’t drag their heels. It is important to be careful with these cards, since most of them contain very high APR’s and you should be able to pay them off in full at the end of each month.

APR’s change with the economy, but lower is always better. When you are at the point where you are ready to apply for a card, you have likely seen lots of information about APR’s and now are absolutely confused and perplexed by all the seemingly amazing credit offers out there. Trying the lowest APR on a card application IS confusing because there are different rates for different scenarios.

Let’s clear up some of the confusion about credit card APR’s. Most 0% Intro APR cards charge a transaction fee for transferring balances, but “no fee” zero percent intro APR balance transfer offers still exist, are they are now the most sought-after cards. The Citi® Platinum Select offers a 0% fixed introductory APR for 12 months from account opening on balance transfers. Also consider the Simmons Rewards Card, which offers a 0% Intro APR on balance transfers and a low 8.

Offers

If you never fly you probably wouldn’t want a card that offers frequent flyer miles as rewards, but if you are a frequent flyer, this type of card may be your best bet. There are different cards that come with certain special offers and it is really a good idea to check out the various offers before grabbing a card.

About the author: Bobbie McKee specializing in providing a comprehensive list of the latest credit card offers. You can search for Credit Cards For First Timecredit Card Holders [http://www.applycreditcardnow.org/] or you can choose from over 130 credit card offers [http://www.applycreditcardnow.org/category/low-interest/] Full permission to reprint this article is given provided this box is kept unchanged.

Times aren’t great for businesses, especially small businesses. The current financial slump is affecting more than just the housing industry. As more prices go up from gasoline to food and every service under the sun, people who had expendable cash in the past have less and less of it. They are also keeping the little they have on hand, just in case the prices go up again.

This translates to less money going into small businesses all across the country. Many of them are seeing drops in sales that they have never seen before. In response, they are making cuts. Some are cutting services, others are cutting manpower and some are being forced to close their doors completely.

If you are one of those struggling small businesses looking to do more with less you may be able to get a little help from a new credit card. While you may think that getting a credit card and accruing any debt would be the wrong thing to do right now, that is not quite the case.

All businesses have some sort of debt. Whether it’s an outstanding loan or other business credit cards, there are debts to be paid on every month. The key is how much you are paying, and how much of that is going to the principal or how much is going into the interest. By switching to a low interest business credit card you will be able to pay more of the real money you borrowed and less of the interest payments to the credit card company, thus spending more each month. You will also soon have more money on hand as you will be able to pay off the previous debt more quickly.

Getting a Low Interest Business Credit Card

For most businesses, getting low interest business credit cards is easy. You may even be able to find 0% interest credit cards if you really shop around. These business credit cards will give you low or no interest on purchases made for 6 months, a year or more. Make sure to read the duration offered by each one. As long as you have a business in good standing, you should not have a problem getting one of those low interest business credit cards.

In addition to the short term, make sure you think of the long term. Find out what the interest will be once the introductory low or no interest period has ended. They all go up, but you can shop around to find one that is still low and will still keep your bottom line down.

Steve Sikes is an MBA and writes articles on credit cards and other financial products. To read other articles and compare and apply online for top credit card offers for low interest, balance transfers, rewards, cash back , business, airline miles, you will want to visit http://www.CreditCardWave.com

Running up credit card debt, it’s so easy to do, especially since we are all trying to achieve the American Dream– a new chair for the living room, braces for the kids, a new outfit for Saturday night dates, eating out with friends, and driving our new SUV that guzzles the gas and increases the insurance bill. It all seems to have become a part of normal daily living. We pay the minimum due, watch the balance go up, and put on a happy face because we’ve got it all.

Gerri Detweiler, author of Slash Your Debt, Save Money & Secure Your Future and founder of DebtConsolidationRx.com, notes,

“Americans are pretty optimistic so it often takes a long time for a consumer to realize credit card debt is a problem. Most of us are counting on something to help us get rid of the debt quickly. It could be a raise, business income, even an inheritance or lottery ticket.”

That’s what Chip and Shelley Smith of Midland, TX thought when they first got married. Happiness must at least partly come from keeping up with the Jones’s. But years later and upwards of $50,000 in credit card debt Shelley says they had nothing to show for it. They aren’t world travelers and they weren’t having any fun. It was the daily trips to Target and Pier One Imports for items they didn’t need but thought they might use one day that got them into trouble.

They finally woke up after attending a Dave Ramsey seminar and realizing the craziness of paying interest for pizza. After making changes in their lifestyle, selling lots of items on Ebay including family heirlooms, and working their way out of debt, Shelley now sleeps well at night free from wondering how to pay their bills.

You can sleep well too! Detweiler says if you have credit card balances running up with no idea how to make them start running down, if you have no idea how long it would take and how much it would cost to pay your balances off, or if you’re paying off a credit card with another credit card it’s time to get serious about your debt.

Create a Repayment Plan

This is the first important step in your journey because it lays out the path ahead. A repayment plan will clearly show you all your debts, how long it will take you to pay it off, and how much it will cost in interest and fees to pay it all back. It will also give you a good idea of what options you have. For example, Detweiler says if your plan shows it’s going to take more than 3-5 years to pay off your debt on your current budget, then it’s important to seriously consider debt counseling. Bankruptcy is also an option, but most consumer advocates stress that is should always be an absolute last resort.

For help on creating your plan, visit EveryDayWealth.com. The site offers everything from a personalized repayment plan to monthly credit reports, and ways to lower your finance and insurance costs, build better credit, monitor and protect your assets, and optimize your bill payments.

Finding Money for Your Payments

It’s time consuming and costly to try getting out of credit card debt by paying only the minimum, especially if you continue to charge purchases. But at times it can feel almost impossible to find the extra money to be able to pay more. Here are some tips to help you get started.

The “B Word”

While it’s not most people’s favorite thing to do, taking one month to track every single penny you spend through a budget is an invaluable step in getting out of credit card debt. You’re sure to find areas where you can cut back. The biggest areas of overspending are food and transportation. Detweiler says she’s seen consumers discover they were paying $200 a month for pizza delivery or $160 a month at the office vending machine. Don’t be discouraged, however, if you only find $10 as any little bit can help reduce your debt.

After tracking spending for a month you may find it necessary to make a few lifestyle changes. It may not be easy, but the changes aren’t necessarily permanent either. Here are some ideas to get you started living a more moderate lifestyle.

If you have good local public transportation or good bike routes, consider living with only one car. If you do need two cars consider a trade down, which could also lower your gas and insurance bills.Reduce your housing costs by setting the thermostat a little higher in the summer and a little lower in the winter. Or do you even have an extra room you could rent out? Maybe moving to a smaller place would save you money, assuming the savings outweighs the cost of moving. Perhaps it’s a matter of dropping some cable channels or living without Internet access at home.Cutting your food bill is one of the most effective ways to find extra money. Try not eating out as often, keep a price book, shop alone, eat a snack before grocery shopping, buy in season fruits and vegetables, eat less meat, and avoid cold cereal (hot cereal is cheaper and healthier).

Making minor lifestyle changes can help you achieve the new American dream–freedom from debt for all!

Get Another Job

That’s right! It might temporarily take a part-time job delivering pizzas to get you and your family back on the right path. Or if you are living off one income so mom (or dad) can stay home and raise the kids, consider opening a home daycare or other home based business. That way you still get to be with your own children and earn some extra money at the same time.

Sell Some Stuff

Chances are you have lots of sellable stuff you aren’t using packed in the back of your closet or in boxes in your garage. And if you aren’t the sentimental type go ahead and sell grandma’s china. Even if you are sentimental, consider keeping only your most treasured heirlooms. Try not to overlook something that doesn’t appear valuable. The Smiths inherited a painting that hung in her grandmother’s garage for years and it ended up being auctioned off for $40,000 at Christie’s in Boston!

Tap Into Your Assets

If you do have some savings, consider pulling some of it out to pay off your debt. You typically don’t earn near enough interest in a savings account (typically around 1-2%) to outweigh the interest you’re paying on credit card debt (typically around 15%). You can consider tapping into a 401K plan too, but be cautious with this option. You will need retirement savings some day and according to Detweiler, these types of accounts are usually protected during bankruptcy proceedings. It may be a good idea to speak with a lawyer about bankruptcy options before using retirement money.

Moving Forward

Once you’ve found some extra money to start paying more than the minimum you’re ready to move forward. Determine a fixed monthly payment you can put towards the debt. Pay only the minimum on all your credit cards except the one with the highest interest rate toward which you will pay as much as your budget allows. Detweiler adds,

“For most people paying the highest interest rate credit card is best. Once it’s paid off, then move on to the next highest interest rate keeping your same fixed monthly payment.”

Another option that worked well for the Smiths is paying the lowest balance credit card first. Smith said that quickly getting rid of the first credit card debt gave her the confidence and motivation to move onto the next.

Contact Credit Card Issuers

It’s always a good idea to contact your credit card issuer to try and negotiate a lower interest rate. If they won’t give you a lower rate, try applying for a new low-rate credit card. The “Card Reports” section of CardRatings.com is a great place to shop and compare credit card offers. If you do get a new low-rate card then immediately transfer as much of the balance from your higher rate card(s) as possible. If possible, try not to exceed 50% of the credit limit of any of your cards as doing so could lower your credit score. By staying under the 50% mark you may find new low-rate credit card offers appear in your mail box, which could give you a valuable tool in negotiating.

If you are behind in your payments, some credit card issuers may even be willing to set you up on a hardship plan where your required payment is reduced. Credit counseling agencies may even be a better alternative. Detweiler notes,

A hardship program done directly with the credit card issuer won’t have this advantage, so as long as you are paying less than the contractually agreed upon amount your account will have a negative standing.

Final Thoughts

Getting out of credit card debt is never an easy process, but it can be done. The extra effort definitely pays off, not only financially but also when it comes to your peace of mind. We sincerely hope that these self-help techniques will help you achieve the new American dream– freedom from debt for all!

Amy L. Cooper-Arnold has been a staff writer for http://www.cardratings.com CardRatings.com since 2004. Her articles have been republished by respected publications throughout the country, including Young Money Magazine, E/The Environmental Magazine and About.com. Amy recently graduated with honors from Austin Peay Univ. and is currently taking graduate-level classes.