The best way to reduce the cost of credit card debt is to avoid it, first when you make purchases of consumption. You can prevent consumers by eliminating the debt of your credit or restricting the purchase of consumer items that you can repay each month. Remember, take that for long-term investment.
Do not keep a credit card that charges you an annual fee, especially if you pay your balance in full each month. Many toll-free credit cards exist - and sometimes even offer an advantage to use:
• Discover Card (800-347-2683) rebates of up to 1 percent of purchases in cash.
• GM Card (800-846-2273) provides credits worth 5 per cent of your expenses that can be used for the purchase of most vehicles manufactured by GM.
• AFEA (800-776-2265) offers a map for free.
• USAA Federal Savings (800-922-9092) offers a map for free.
You should consider the cards in the list above if you pay your balance in full each month without charge, because the cards usually levy high interest rates for balances held in the month. The small reward that you get you do not really much good if they are offset by interest charges.
If you have a credit card that charges an annual fee, try calling the company and you want to cancel the card, because you can get a competitor of the card with no annual fee. Many banks agree to waive the fee on the spot. Some require you to remember each year to cancel the tax - a problem that can be avoided by a real card free of charge.
Some cards charge an annual fee and provide credit to purchase a specific item, like a car or plane ticket, a value of May whereas if you pay your bill in full each month and charge $ 10,000 or more per year.
Note: Be careful - May you be tempted to charge more on a card that rewards you for other purchases. Spending more for premium rack LIP defeats the purpose of credit.
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