Think About Your Debt

This is the month we spend to make the people around us happy and to make them want to be our friends.  Our national debt creeps higher each minute you sit on Amazon or shop through the stores.

We paid off all credit cards this year, and I am not returning to monthly interest and debts I have to worry about.  In our journey, we found Citi Cards.  This month, they are offering 0% on transfers with a 5% transfer fee.  Now is an excellent time to review your debts and see if moving some or all of a credit card to this one will help your situation.

Start the new year by acknowledging your problems and making a plan. 

1) Apply for the interest fee card---you cannot take the total limit they give you, but anything reduces your monthly outflow.

2) Move 1/2 the limit they give you to the new card.  Divide the amount by 18 -- for the 18 months you will be paying on it. Do not take the full number of months; you must show you have a new plan to get out of debt.

3) Pay the card off before the end date so you do not get hit with an interest rate of over 20%. 

Once you do this, other cards will come in the mail to you.  If they offer 0% for more than 20 months, apply and do the process over again.

I did not realize I was paying more than $100 per month in interest when I started, and now I pay no interest as I am paying the card in full each month.

I am not a credit advisor, but this worked for me.  It will work for you if you follow the rules.  Merry Christmas!! Gwen

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