reduce credit card debt
I have nearly 10K in credit card debt at 18%, but can reduce it to 8% if I can dump the money somewhere, help
If I can transfer the balance to another card then transfer it back with a purchase check that guarantees 8% APR for the life of the balance that will help a lot, but the problem is no credit card company will give me another card because of my debt compared to my income and I doubt a bank will lend me the money for the same reason, but I just need some way to get 10k quick and pay it back in a few days time, any suggestions?
Credit card debt is an inevitable reality for most of us. Unless born with a silver spoon in the mouth, we find it pretty much difficult to keep up with the credit card repayment schedule, and the result is a good hefty credit card debt. Things go worse if the credit card debt is attracting high interest rates and causing further burden. Paying the monthly minimum is one of the options which we all find shelter in and this makes things even more disastrous. Is there a way out? Definitely yes. If you haven’t already heard of credit card balance transfers, read on.
Credit card balance transfer is a process by which we can transfer our outstanding balances on a credit card (which are generally at high interest rates) to a low interest rate credit card.
Balance transfer has some good advantages let us look at a few of them.
Balance transfer is one of the best methods to get rid of that credit card debt. When you transfer balances all your outstanding balances are wiped out and transferred to new credit card.
Depending on what deal you get on the balance transfers the new interest rates on transferred balances could be 0% or a low rate for a particular period. The ideal situation should be to get all the balances cleared within this low interest rate period.
The repayment terms will also relax considerably as you transfer your balances.
Credit card companies bundle a lot of exiting features with the balance transfer program, this could be a no annual fee offer and your favorite reward program. Read more from: http://www.credit-card-gallery.com/article/374,Credit_card_balance_transfer_A_really_good_option_for_those_with_huge_credit_card_debt
