Today is the Fourth of July, which means Americans everywhere are celebrating their freedom. Freedom is a right given to us by our constitution, but did you know, almost half of Americans are not free from credit card debt? Here are a few tips on how you can free yourself from debt.
Speak to your banker about lower interest rates
With a simple visit to your neighborhood bank, your banker can adjust the interest rate you pay, depending on your credit score and your loyalty as a customer. Many times, your bank will also match the interest rate of a Nother offer, as long as you have proof of the interest rate from their competitor.
Transfer your balance
If you are locked into an interest rate that you think is too high, you can transfer your debt to another credit card, one with A lower interest-rate, or a trial period with no interest at all. It’s important if you find a card you like with a 12 month interest free trial period, that you pay off your debt in that amount of time in order to ensure you won’t collect interest on the old balance.
Speak with an accountant
Whether you are trying to set a get-out-of-debt plan in order, or need help budgeting with credit card payments, speak to an accountant to make sure you are making the smartest financial decision.
Looking for an accountant to help you get out of debt? Give Hacker Accounting a call at (602) 375-5251 to get started!