Eliminate Credit Card Debt

Credit card debt is huge problem in the USA, and one that many people tend to ignore the problem until it's too big to handle by themselves. Let Premier Savings help you take control of your financial situation and stop the growth of your credit card debt.
Premier Savings would like to help you eliminate credit card debt as rapidly as possible at the lowest possible cost to you. Below are some other ways to get rid of credit card debt besides consolidation.

List all of your credit cards. You should include the balance, the interest rate, and the minimum payment percentage.
Rearrange. Reorder your list so that the highest interest credit card is on top and the lowest interest credit card is on the bottom
Combine. Add the required minimum payments for all the cards.
Calculate. Figure out how much money you will be able to add each month to paying off your credit cards (this separate from your minimum payment).
Act. Every month, pay the minimum balance one every credit card besides the one with the highest rate. On the credit card with the highest interest rate, pay the minimum balance PLUS the other amount you've set aside (Step 4) to reduce your credit card debt each month.
Persevere. Keep doing this until the first credit card with the highest interest rate is paid off entirely. Now take the amount that you were paying on your first credit card (which is now paid off) plus the amount of the minimum balance on the second credit card, and apply that amount to the second credit card (from Step 2) each month until the card has been paid off, while continuing to pay the minimum balance on all the other credit cards.
Finish. Continue compounding your payments on the credit card with the highest interest rate (as you have done before), until all credit card debts are paid off.

This is a tried and true way if eliminating credit card debt while saving as much money as possible on interest fees. We recommend that you consolidate your debt and pay only one low interest rate with one card, which will speed up the process for you and cause you less of a headache. If you choose not to consolidate and proceed with the above method, do NOT start with the cards that have the lowest balances first, rather than working on those with the highest interest rate. That approach might make you feel better because you can quickly see the number of credit cards with balances decline, but that good feeling will cost you a lot of money (often in the thousands). Credit card balances with higher interest rates accumulate interest costs more quickly. This means that you’d be paying more to the credit card company in interest than in actually paying down the principal amount that you owe.