How to Pay Down Credit Card Debt Faster
Join our #CreditChat on Twitter and YouTube every Wednesday at 3 p.m. ET.
This week, we had a chance to chat on Twitter with Jeanne Kelly and Go Girl Finance about ways to pay down credit card debt faster.
We also had a Google+ on air video chat with: Beverly Harzog – Credit Card Expert & Author of Confession of a Credit Junkie, Todd Christensen, Director of Education at the National Financial Education Center, Claire Murdough – Writer & Podcaster at ReadyForZero, Rod Griffin – Director of Public Education at Experian, and Mike Delgado – Social Media Community Manager at Experian.
Questions we discussed:
Q1: What are the pros/cons of using credit cards?
Q2: Should everyone have a credit card? Why or why not?
Q3: Why is it easy to fall into credit card debt?
Q4: What precautions can we take to avoid swiping the CC when it will lead to debt?
Q5: How do you decide on what credit cards to focus on paying off first?
Q6: What are ways to stay disciplined in paying down CC debt? Any tools or tips?
Q7: What do you think about transferring CC debt to another card or loan?
Q8: What types of credit card penalties and fees should consumers be aware of?
Q9: Any final tips for those that want to pay off credit card debt faster?
Resources:
- Association of Independent Consumer Credit Counseling Agencies
- Everyday Money Blog & Book
- How to Strategically Manage Debt [Video] – Gerri Detweiler
- Save Money or Pay Off Debt [Video] – NFCC
- 10 Worst Ways to Pay Off Your Credit Card Debt – Wisebread
- Money Buzz Podcast – ReadyForZero
- Debt Reduction Services, Inc.
- Cambridge Credit Counseling