Most of us overspend and end up with credit card debt from time to time. For some, it happens more than others. If you’re struggling with credit card debt and have no way forward, it’s easy to believe that you’re going to be stuck with it forever, but it could just be about putting the right tools into action.
Like a balance transfer credit card. Yes, really.
A solution that works
It’s ridiculous to think that something like another credit card could help you get rid of the debt from your other credit cards, but the financial perks check out. It’s all about how the interest can work with, or against, you.
- Transfer the whole balance you owe to a no-to-low interest credit card
- Save potentially thousands of dollars on interest
- Keep paying your minimums as usual
As mentioned in WiseBread‘s article, “How a Credit Card Can Actually Help You Get Out of Debt”, a credit card may not actually be the worst thing ever when it comes to getting your money under control. But, you do need to make sure that you are choosing the right low-interest one. Otherwise, you may just end up in the same situation with a new card. For more detail, take a look at WiseBread‘s post here!
SOURCE: WiseBread
