If you’re struggling to keep up with your credit card monthly repayments in full, you’re officially in credit card debt. And you’re going to need a strategy to tackle this head on before it snowballs further.
When you’ve racked up high-interest debts from multiple accounts or credit cards, you should quickly move to consolidate all your debt in one place. Your new debt plan should have a lower interest rate than your existing debt, making payments more manageable and/or the repayment period shorter.
The 4 most effective ways to consolidate credit card debt are:
- Zero Interest or Balance Transfer Credit Cards
- Personal Instalment Loan
- Line of Credit
- Debt Consolidation Plan
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