Clear your credit cards and avoid paying higher interest rates by doing some basic research. If you are not sure where to start looking there are many different ways to research credit cards and pay off debt. You can do an online search for free and find out what interest rate is currently being charged on a variety of cards. It is important that you compare all of the interest rates to make sure that you are paying the lowest possible rate. Some people have to deal with credit card companies every month because they cannot get enough money to make ends meet. In these cases it is always wise to take advantage of any specials or rewards that the company may offer.
Another way to research and pay off your credit card debt is to talk to people that are in the same situation as you are. A good idea would be to try calling your current credit card companies and asking them how much you owe. If they give you an exact figure you will want to do some research to see if you can find out what the balance is and how much you will owe after you pay them off. If they give you a range they will be more than happy to send you a check in a few weeks.
One of the simplest ways to start paying off your credit card debt is to use a strategy called the snowball method. This is a great way to go because it does not involve much work. The way the snowball method works is you make a list of your credit cards. Then when you receive a new card you pay the balance off immediately. After you pay off the first card you will repeat this process until you have gone through all of your credit cards.
Now you may be thinking that you are not getting anywhere fast. Well the truth is that it really does take time to get rid of all of your credit card debt. It is not going to happen overnight and if you have been neglecting payments you are not alone. But with disciplined planning and determination you can go through this process quickly and begin paying off all your balances. Once you get the process started you will be amazed at how fast you can get out of debt.
Another way to clear your cards and get them paid off sooner is to use low rates credit cards. These are cards with specific offers for the low rates and keyed transactions. This means that you can enjoy the benefits of having low interest rates and keyed transactions even if you have poor credit. And when you are paying off your high rate cards you will not have to worry about making regular monthly payments. This makes paying off credit cards faster.
Finally you can take advantage of the equity that you have built up in your home. Many people are stuck in mortgage or home equity loans and need to come up with extra cash to pay off credit card debts. By putting down some equity in your home you can take advantage of low interest rates, keyed transactions, and longer amortization periods. Plus you can enjoy tax advantages as well. You may want to consider an equity loan to help pay off your credit cards so that you can enjoy financial freedom.