How to Get Out of Credit Card Debt Without Ruining Your Credit

Did you know that the average American has around $38,000 in personal debt? Do you feel like you have been drowning in debt lately? If you are part of this statistic and are looking for how to get out of credit card debt without ruining your credit, you are in the right place.
Keep reading to learn more about how to tackle your debt ASAP!

Debt Consolidation

Finding a debt consolidation company is a great way to pay off your debt without worrying about ruining your credit. There are different companies out there that will consolidate your debt into one making it easier to handle everything you owe with one payment vs a few different payments. This is a great method if you are able to get a debt consolidation loan that has a lower interest rate than your current credit cards. If you are looking for options check out all the debthunch reviews to see if debt consolidation is a good option for you too.
Another way to consolidate debt is to take out a personal loan. A personal loan typically has a lower interest rate than a credit card does. Make sure that before you commit to a personal loan the interest rate is lower than all of your credit cards before signing anything.

Ask for Lower Interest Rates

Sometimes credit card companies might lower your interest percentage one or two points. This can add to up to hundreds when you do the math. Call each credit card issuer and ask about lowering your rate. If you have been a long term customer that has been making payments on time and have a good credit score, they will more than likely say yes.
If you have recently been offered a lower interest rate by a competitor you can ask if they will match it. Depending on the credit card company they might match that offer.

More Minimum Payments

Usually, with a credit card company, you are charged interest daily which means that the sooner you make a payment the less interest you will pay because your average daily balance goes down. Instead of paying one minimum monthly payment pay two payments in the same month. You would be surprised at how many years this will knock off your pay off date. For those on super tight budgets making a payment of the minimum due every two weeks is the way to go.

Now You Know How to Get Out of Credit Card Debt Without Ruining Your Credit

Learning how to get out of credit card debt without ruining your credit is the first step, the next step is to take action. Start applying everything we shared above and soon you will feel the weight lifted off your shoulders.
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