CREDIT CARD DEBT REDUCTIONS - THE VERY BEST INVESTMENT
The compounding effect of Credit Card debt is so devastating that a small debt carried along for months can change an 18% cost factor into a 40% cost factor, even though you are still paying off a very slow growing minimum required payment!
The average credit card interest charges vary from about 17% to as high as 21%, though IF you push your financial institution, (1997) you now can get then to reduce to as low as 9.25%, with- out and collateral against this far lower interest.
If you have credit card debt, you should shop around for the lowest-rate of credit-card charge that allows you to transfer your debt to it. This will (a)Stop the Debt-Compound Interest effect on your prior-card (though restart a new one) and will immediately make your payments lower - for some while.
You can also consider refinancing this credit-card debt load with a personal loan that you will then pay off over a specific period of time with a specific amount of monthly payment, and suddenly - you are in control of your debt-load!
These methods can not only save you a great deal of money, but can also be the best Return On Investment (ROI) possible!
Where-else can you see an 18% to 40% Return on Investment, that is guaranteed to you - So Dig-Out of debt as soon as you can!
It may not be easy to get the very best Fixed-Loan for refinancing your debt, or do get a low-rate Credit Card change, but more often than not, the Debt-Holding institution, would rather keep your debt to them and make less money from you, then loose the their profits of your debt to them.
So Shop Hard - it's worth a Bundle of Money to you! It's not always easy to get approved for a low-rate card, but it's worth the effort.
David Philip Gladstone, President - Independent Financial & Insurance Services©
I.F.I.S.© 514-484-7586 dpg@oath.com