Debt Consolidation

Custom Search

Debt Consolidation
Debt Relief
Should You Invest
The 5 Secrets
Mr. Cheapie's Frugal
Start Small and
Debt Collectors; And
Bankruptcy, Is It
Top Ten Reasons
What Is A
Is There Any
What Is A
Debt Collectors: Men
Personal Debt Reduction
Take Careful Consideration
Life After Debt
How To Get
Currency Trading Fee
What is Debt
Assess Your Financial
Why You Should
Debt Validation: Do
Bankruptcy: What You
Bankruptcy As An
Bankruptcy: Which
Bankruptcy Abuse
Bankruptcy Reform
Bankruptcy: Who
Taking The Plunge
Bankruptcy Interest Increases
Debt Consolidation Versus
Reduce Your Debt
How to Become
Yes to Less
Mandatory Credit Counseling
Credit Card Debt
Student Loans Canít
Debt Consolidation
Debt Relief
Credit Cards Utilized to Get out of Debt?
by Christopher Jones
The purpose of this article is to outline some very important, yet often overlooked bits of information regarding the feasibility of utilizing credit cards to actually get out of debt. I am sure that most of you are inundated daily by credit card

The purpose of this article is to outline some very important, yet often overlooked bits of information regarding the feasibility of utilizing credit cards to actually get out of debt. I am sure that most of you are inundated daily by credit card applications and the latest greatest credit card offers. It should be obvious that these offers are simply a prime example of the famous bait and tackle method. However, it is very possible to utilize these offers to your advantage. I will list a few methods below.

If you are currently bogged down by credit card debt and really feel stuck due to the high rate you seriously need to consider opening another credit card. That is probably the last thing you thought I would recommend, however, I firmly believe it is the best option for some people. Many will look to debt consolidation companies for a quick fix and you may have looked into them as well. You need to consider this before taking that step. Most debt consolidation companies affect your actual credit score almost as badly as filing bankruptcy does (one step up from Bankruptcy). Also, a majority of the debt consolidation companies out there are owned by the credit card companies. So, why open a new credit card?

You must utilize the credit card companiesí bait and tackle method to your advantage and open up a new card. I should preface this first by saying that it is likely something youíve already thought about, maybe even done already. This requires pure discipline and if you donít have it donít do this. I am aware that an abundance of people are already doing this and it is nothing new, all I am here to say is that it works and should be considered.

The first thing you need to do is focus on offers on balance transfers that give you either 0% or below prime for the life of the balance transfer. For example, I currently have two credit cards, one with a rate of 0% on the entire balance (for the life of the balance) and the other with a rate of prime minus 2% (also for the life of the balance). 100% of my credit card debt falls across these two cards and I can sleep at night knowing that I am not getting charged 20+% and that my debt snowball process will actually be effective. You should also consider that the offer is void if you make a late payment. This is where the discipline comes in. You need to use your banks online bill payment option, make sure your account has over draft protection and set it up to make your payment automatically. Also, and even more importantly, DO NOT ACTUALLY USE THE CARD!

Finally, there are a ton of misconceptions that opening/closing multiple credit cards will negatively affect your credit score. I am here to tell you that it will negatively affect your credit score, however, no where near like going to a debt consolidation company would.

Chris Jones is the director at Credit Card Insight. provides a wealth of information on credit cards, credit repair, and debt consolidation.

The site is not responsible for any content in it. E-mail: alldir[at]gmx[dot]com
debt consolidation, home loan, mortgage, debt free, debt help, refinance, equity loan, unsecured, secured debt, bankruptcy, credit card , bad credit, payday, cash advance, cash settlement, line of credit, student loan, interest rate, borrow money, car loan, adverse credit, compensation, quote, credit score, consolidate debt Warren township Cooperstown village (pt.) Carrollton city (pt.) Cody village Midway township Lacey Daytona Beach Shores Maple Bluff village Grosse Tete village Cherry Fork village St. George township Monroe township Rice Beech Creek borough Balance of Root township Ivor town Shageluk Kingfisher Brandt township Algonac Lima town Balance of Henry township Milbank Unity village Niles Berlin township Hancock township Eagle Butte city (pt.) Balance of Liberty County Blom township USA UK Australia Canada Saint Pierre and Miquelon French Southern and Antarctic Lands Austria Saint Helena Mali Australian Antarctic Territory Palmyra Atoll Senegal Somaliland Czech Republic Stirlingshire Glamorgan Sussex Lincolnshire Perthshire Fermanagh Huntingdonshire Stirlingshire Sutherland West Sussex Nevada (NV) Kansas (KS) Federated States of Micronesia (FM) Arkansas (AR) Oregon (OR) New York (NY) Virgin Islands (VI) Hawaii (HI) California (CA) Wyoming (WY) Washington (WA) Marshall Islands (MH) Idaho (ID) District of Columbia (DC) New York (NY) Indiana (IN) Kentucky (KY) Rhode Island (RI) Arizona (AZ)