Terrific Choices On Your Credit Card Consolidation

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Terrific Choices On Your Credit Card Consolidation

By ric dalberri

Below are some terrific tips on how you can consolidate your credit card ourstanding balances more efeectively.
1) Write out your financial budget. It might be something you’ve been avoiding but it’s very important to know exactly how much you take in and how much is going out. Keep a journal of how much you spend. Take a pocket notebook with you, keep your receipts. You will be surprised of how much you really spend and on what.

2) Make a list (file) of all your creditors with all their information: Names, addresses, account no#’s, the total you owe and the minimum payment allowed and the interest rate. 3) Now you have a working data sheet. A financial budget, a list of all debts. Do the math. What’s left each month? Keep your payments to the minimum while doing this exercise.

4) Call your credit card companies and let them know you are thinking of moving your balances to another card becasue of the lower interest rate. You’ll be surprised when they tell you they can lower theirs as well. They may ask that you move your balances to their card. Remember, if you don’t ask, you don’t get. Tell them to send it to you in writing 1st.

5) If your current credit cards won’t help you, don’t take a home equity loan on your home to accomplish this. This should be the last resort. Remember your goal…..Get out of debt. When you seek a financial advisor, seek free advice at first. Keep focused. Chart the course and stay on target. It works. I hope that these 5 tips on credit card consolidation will help you to repay your debts sooner.

How will you use the suggestions offered here ?