Debt levels are rising and so are interest rates. Experts say that the combination makes now the time to pay off your credit card debt.
The wrapping paper has been cleaned up, the tree taken down and the ornaments put away. Another holiday season is behind us, but for many Brevard County residents serious credit card problems are directly ahead.
Experts say there is a foolproof way to pay off your credit cards. Experts also say that few of us are using that surefire method, which is why so many of are struggling with credit card debt.
It's easy in today's fast-paced world to get behind on your bills. For many people, getting behind is more about unforeseen circumstances (illness, job loss, divorce, etc.) than it is about reckless spending.
Experts say that you should pay your credit card bill every month in full so that you don't have to pay those high credit-card interest rates. While those experts might well be right about the wisdom of paying off cards monthly, the reality is that many people find themselves carrying a high balance (the average is over $10,000) and paying an interest rate that averages 16 percent.
Nobody plans to get into unmanageable credit card debt. Credit card debt is something that can sneak up little by little, or it can happen all at once from a major expense. Neither situation is desirable, but the reality is that numerous Americans live with overwhelming credit card debt.