Credit card debt can be scary and confusing to deal with on your own. We gathered some myths and facts about credit card debt to help you tackle your credit payments.
"Credit card debt is only going to get more and more expensive in the coming months," said Matt Schulz, a credit card analyst at LendingTree, an online loan marketplace. "When the Fed raises interest rates virtually everybody's credit card interest rates rise, so it's really important th...
Once you stop adding to your balance, one of the best ways to pay off credit card debt is fairly simple: You’ll reduce your debt quicker if you pay more than the monthly minimum amount required by your credit card company. That’s because the minimum payment equals only a small fraction...
Lewis J. Altfest, acertified financial plannerin New York whose clients tend to be professionals with large incomes, says credit card debt often represents a risk. It can also be an early warning sign of trouble ahead. "Too frequently, [financial planners] see abusive use of credit l...
Lewis J. Altfest, acertified financial plannerin New York whose clients tend to be professionals with large incomes, says credit card debt often represents a risk. It can also be an early warning sign of trouble ahead. "Too frequently, [financial planners] see abusive use of credit leading ...
You may have too much credit card debt if the following sounds familiar: You're only making minimum payments While occasional cash flow issues might force you to make oneminimum paymenthere and there, a pattern hints at trouble. Christopher L. Stroup, certified financial planner and founder of...
Seek professional advice: If you find yourself frequently overspending and struggling to manage your credit card debt, it might be time to seek professional help. Financial advisors or credit counselors can review your financial situation and provide tailored strategies to manage your debt, including ...
Gen X reportedly has more credit card debt than other generations. Paying it down can involve changes in expectations, budgeting and minimum payments.
A financial planner shares an 8-step plan to paying off your credit-card debtNatalia Lusinski
MAP OUT YOUR CREDIT CARD DEBT AND MAKE A GAME PLANBefore you can focus on paying down your credit card debt, you need to know exactly what you're working with. Grab a piece of paper, your handy dandy Budget Planner, or open up a spreadsheet on your computer. Pull up all your credit...