Consolidate your credit card 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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