Credit Card Debt

My husband and I started our marriage off several years ago with 7 credit cards and $12,000 in credit card debt!  Several of the cards had a high interest rate of 14% to 21%.  Marriage is hard enough without the stress of debt so I went on a mission to cut this debt as fast as I could.  I had not heard of debt consolidation centers such as Consumer Credit Counseling so I started calling the credit card companies directly.  Out of the 7 credit cards, 5 of them lowered their rate for me and 1 gave me a 6 month 0% interest!  The last card company refused to lower my rate.  So after more phone calls, one of the lower rate cards offered to do a transfer balance from the high rate card.  Back then credit card companies did not charge a transaction fee for balance transfers but even if they had, it still would have been to my advantage to transfer from a 21% card to a 8% card.

Check back tomorrow and I’ll give you points on dealing with credit card companies directly rather than through third party companies.  DANA

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