Juggling Multiple Credit Card Balances? 3 Strategies to Employ
Wednesday, 27 March 2024, 00:00
Juggling Multiple Credit Card Balances? 3 Strategies to Employ
If you're carrying debt on multiple credit cards, consider these three strategies to manage your balances effectively:
- Do a balance transfer: Transfer your balances onto a single credit card with a 0% introductory APR to consolidate your payments.
- Consolidate with a personal loan: Use a personal loan to pay off your credit cards and make fixed monthly payments until your debt is gone.
- Consolidate with a home equity loan: Consider a home equity loan if you're a homeowner to secure a lower interest rate by using your home as collateral.
Managing multiple credit card balances can be stressful, but these strategies can help simplify your debt repayment process and avoid missed payments that could damage your credit score.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.