PAY OFF CREDIT CARD DEBT FAST (By Using Credit Cards!)

Credit cards are almost always associated with debt, financial distress, and a lot of opinions and emotions. Click "Show More" to see Ad Disclosure. Should you use credit cards…ever? Or should you always stick with cash and debit cards for all your purchases? 💳👉VIEW CREDIT CARD OFFERS! https://markscreditcards.com/offers 🛍 RAKUTEN - Earn Cash Back! http://markscreditcards.com/rakuten ‼️ GET FREE STOCKS FROM WEBULL when you open an account & deposit $100: http://markscreditcards.com/webull Here’s the truth: Credit cards will not get you into debt. Only you can do that to yourself. In fact, credit cards can be one of the smartest financial tools when placed in the right hands. And you can actually USE CREDIT CARDS TO PAY OFF CREDIT CARD DEBT (if you do it the right way...) If you’re struggling with money right now…perhaps because your income was reduced, or you were furloughed or laid off…or you were already living paycheck to paycheck…here’s some simple financial advice that can go a LONG way to help you during these difficult financial times: 1. Get your current interest rate (APR) on your current credit card reduced. Look out for email offers to enroll for free, or call the number on the back of your card and ask for a lower rate. Ideally, you should never carry a balance due to high interest rates, but if you NEED to carry a balance for a TEMPORARY period of time, then paying as little interest as possible is a smart move. 2. Get a NEW credit card with a promo APR rate. Many cards offer 0% interest for 12+ months. It might be for new purchases or balance transfers. No interest on new purchases means you can rack up a balance and pay no interest during the promotional period. No interest on balance transfers means you can transfer an existing balance to your new card and carry it interest free for a period of time. Balance transfer cards often have a small upfront fee (1-5%), but that’s WAY better than paying 16%, 18%, or more…which is often the standard APR on most credit cards. 3. Always BE CAREFUL to read the terms: many credit cards will charge interest on ALL prior months if the balance isn’t paid in full before the end of the promo interest rate. As a smart money habit, I recommend: (a) using 0% APR offers only when you need them, and (b) paying off the balance in full a month prior to the expiration date. 4. Remember to never spend more money than you’re able to pay off in normal times. Right now given the difficult economy and financial chaos, you may have normal / everyday purchases that you don’t have the cash for. Given that this situation is temporary, have the self-control to only buy the absolute essentials right now, and put them on a 0% (or low interest) card to get you through. 5. ALWAYS PAY THE MINIMUM PAYMENT EACH MONTH. Even if you need to float some money for a few months, ensure you make the minimum payment to maintain positive payment history on your credit report. There are a lot of factors that make up your credit score, and payment history is one of the big ones. Here are a few credit cards offering 0% APR on new purchases and/or balance transfers right now in July 2020: a) Wells Fargo Propel American Express Card: https://www.wellsfargo.com/credit-cards/propel/ b) Citi Double Cash Card: https://www.citi.com/credit-cards/credit-card-details/citi.action?ID=citi-double-cash-credit-card c) Discover it Cash Back Credit Card: https://www.discover.com/credit-cards/compare/it-card-strategist.html?adobe_mc_sdid=SDID%3D3977DF7E5B50D907-6EA688B65799E23A%7CMCORGID%3D0D6C4673527839230A490D45%40AdobeOrg%7CTS%3D1595116552&adobe_mc_ref=https%3A%2F%2Fwww.google.com%2F d) Chase Freedom Unlimited credit card: https://creditcards.chase.com/cash-back-credit-cards/freedom/unlimited?iCELL=61FY e) U.S. Bank Altitude Go Visa Signature Card: https://www.usbank.com/credit-cards/altitude-go-visa-signature-credit-card.html f) Bank of America Cash Rewards Credit Card: https://www.bankofamerica.com/credit-cards/products/cash-back-credit-card/ Disclosure: This site is part of an affiliate sales network and receives compensation for sending traffic to partner sites, such as CreditCards.com. This compensation may impact how and where links appear on this site. This site does not include all financial companies or all available financial offers. The content in this video is accurate as of the posting date. Some of the offers mentioned may no longer be available. Mark Reese is not a financial advisor. #creditcards #creditcarddebt #payoffdebt