subject: Advice You Can Annihilate Loan Card Debt [print this page] We all know its easy to get into debt, its getting out of it that's the hard part. This goes for any type of debt and especially credit card debt. A credit card debt reduction plan will require discipline in how you spend your money.
Credit card debt reduction starts with reduction in the expenditures you make using your credit card. So, the first trick for credit card reduction is to go for shopping without your credit card (carry some small amount of cash).
Credit card debt reduction like this doesn't mean you cant go shopping anymore, its just designed to get you to think more about what you purchase before you actually do it. It cuts out buying things spur of the moment.
If you leave that credit card at home when you are out shopping it wont be readily available to use to buy that item you might normally buy anyway just because you had your card with you. If its something you really need and you don't have enough cash with you, you can always go back to get your credit card. But by doing this it gives you time to actually think about the purchase and determine if you really need that item in the first place.
By not putting any more charges on your card, or cards, in the first place you prevent your debt from piling up any further. Another method of battling your debt is in the form of a debt consolidation loan. This works by transferring your higher APR credit balances to a lower APR card.
By moving your debt to a lower rate card your payment will be lower, so while this is the case you would need to put extra money towards your principal balance. Who knows, you might just get some cool perks from your new card provider.
So this is actually a method of credit card debt reduction that you will gain out of in the process. But if you, like so many others, are uncomfortable in dealing with the debt in this way you can always work with a credit counseling service provider.
Besides these two debt reduction measures, which are really the most important credit card debt reduction measures, there are other methods. Another one is to ask your current credit card supplier for help in credit card debt reduction i.e. by lowering the APR. It might work out for you (as it does for some people).
And if you need them, there are many professionals out there that specialize in credit card debt reduction. So you can always go that route if needed.
by: Derrick Gibson
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