The Ultimate Guide to Credit Cards
Friday, August 19, 2022

All articles tagged Debt (page 2)

What is the Average Credit Card Debt in American Households?

What is the Average Credit Card Debt in American Households?

No matter what you received under the tree, the average American adult started the new year with the gift that keeps on giving: credit card debt. In fact, more than two-thirds of shoppers used credit cards to finance their holiday purchases in 2017, which means many of us started 2018 with more than $1,000 in extra credit card debt. And that's hardly all the credit card debt Americans dealt with in 2018. Collectively, the total revolving debt in the U.S. has topped $1.011 trillion,... read more »

9 Best Ways to Pay Off Credit Card Debt From Debt Expert Beverly Harzog

9 Best Ways to Pay Off Credit Card Debt From Debt Expert Beverly Harzog

If your credit card spending has gotten out of hand and it's time to pump the brakes, you've come to the right place — keep reading for the best ways to pay off credit card debt. The convenience and rewards offered by credit cards have made them one of America's favorite ways to pay. But a significant thing happens if you start to mistake that little piece of plastic for free money: you end up with a big ole heap of credit card debt. Swiping a card is quick and easy, and for many... read more »

Credit Counselling Society: A Nonprofit Advocating on Behalf of Consumers to Address & Improve Canadian’s Financial Situations

Credit Counselling Society: A Nonprofit Advocating on Behalf of Consumers to Address & Improve Canadian’s Financial Situations

In a Nutshell: Since 1996, Canada’s largest network of credit counselors, the Credit Counselling Society, has helped hundreds of thousands of clients achieve financial literacy and climb out of debt with solutions tailored to their individual circumstances. Committed to providing educational resources and tools, CCS looks to solve financial problems at the root, which often tends to be due to a lack of financial literacy. As partners on the journey to financial wellness, CCS is in... read more »

LSS Financial Counseling: Expert Guidance Helps You Pay Off Credit Card Debt Through Individualized, Cost-Efficient Repayment Plans

LSS Financial Counseling: Expert Guidance Helps You Pay Off Credit Card Debt Through Individualized, Cost-Efficient Repayment Plans

In a Nutshell: Credit card debt is, unfortunately, about as American as apple pie, and in August of 2017, the Federal Reserve reported the highest collective debt in history. People often bear the burden of debt with shame and overwhelming confusion. That’s why organizations, like Minnesota-based LSS Financial Counseling, specialize in such crucial services. The nonprofit’s financial counselors help people wade the waters of student loans, foreclosure prevention, and credit scores,... read more »

How Consolidated Credit’s Debt Management Program Helps Lower Your Credit Card Interest and Pay Off Your Debts in 3 to 5 Years

How Consolidated Credit’s Debt Management Program Helps Lower Your Credit Card Interest and Pay Off Your Debts in 3 to 5 Years

In a Nutshell: Combined credit card debt in the US is now over $1 trillion, which means more than a few Americans could use some help in getting out of the red. Consolidated Credit is a nonprofit that steps in when people need it most. Although it provides people with other types of financial advice on topics like purchasing homes and building savings, Consolidated Credit is best known for working with people to pay off credit card debt and reduce the high interest rates that often... read more »

Get Out of Debt and Into Earnings: GreenPath™ Guides Your Financial Journey, Helping You Pay Off Loans and Reach Your Financial Goals

Get Out of Debt and Into Earnings: GreenPath™ Guides Your Financial Journey, Helping You Pay Off Loans and Reach Your Financial Goals

In a Nutshell: GreenPath was born as a budgeting and financial education service out of the Michigan Credit Union League in 1961. A decade later, it was already expanding into other states, and today, it has offices in 18 states, at 60 different locations, with more than 450 employees. Although founded to help people through financial crises, the nonprofit has expanded its focus to help people achieve their financial goals. Its team of experts in various areas of finance, including... read more »

Bills.com: Educational Resources & Tools that Help Americans Understand Their Options for Getting Out of Debt & Improving Credit

Bills.com: Educational Resources & Tools that Help Americans Understand Their Options for Getting Out of Debt & Improving Credit

In a Nutshell: Consumer debt remains one of the biggest challenges many Americans face in their struggle for financial freedom. Consider that the average household with credit card debt pays nearly $1,300 per year in interest payments alone. Bills.com is a consumer finance portal that provides tips and advice designed to help consumers understand their options for handling debt, improving their credit score, and even finding the best mortgage. Using tools like Debt Navigator and Money... read more »

10 Best Credit Cards After Bankruptcy Discharge – (Rebuild Credit)

10 Best Credit Cards After Bankruptcy Discharge – (Rebuild Credit)

While no one likes to admit defeat, sometimes our debts simply get the better of us and bankruptcy may become the only option for a better financial future. Unfortunately, your credit will see lasting negative impacts from a bankruptcy, but you can repair your credit with some hard work -- and a lot of patience. One of the first steps you should take after your bankruptcy is complete is to check all three of your credit reports. Make sure all of the accounts that were affected by... read more »

Money Under 30: How David Weliver Paid $80K in Debt in 3 Years & Documented It as a Resource for Young Adults

Money Under 30: How David Weliver Paid $80K in Debt in 3 Years & Documented It as a Resource for Young Adults

In a Nutshell: David Weliver paid off $80,000 in combined student loan and credit card debt in just three years by committing to increasing his income and decreasing expenditures. During his journey to overcome substantial debt, he began blogging about his accomplishments and MoneyUnder30.com was established as a resource for young adults in similar situations. Today it is a leading personal finance website that provides approachable, nonjudgmental financial advice to 500,000+ monthly... read more »

Grads Can Save Nearly $19K with SoFi: The First Marketplace Lender to Offer Student Loan Refinancing

Grads Can Save Nearly $19K with SoFi: The First Marketplace Lender to Offer Student Loan Refinancing

In a nutshell: Graduates who used student loans to fund their education face an average of $33,000 in resulting debt. Throw in a graduate school degree and the debt can easily exceed $100,000. Furthermore, many of those grads pay interest rates of up to 7 percent or higher on their loans. SoFi, a leading marketplace lender, stepped in to alleviate some of that financial strain by establishing the first student loan refinancing model in 2011. With variable rates as low as 2.14 percent,... read more »

6 Expert Tips: Increase Your Credit Limit (Get Approved Now)

6 Expert Tips: Increase Your Credit Limit (Get Approved Now)

Are you interested in learning how to increase your credit limit? First and foremost, ask yourself why you want to increase your credit limit. If it’s to go on a shopping spree or purchase things you can’t afford without credit, stop right there. You'll need to have proven to yourself and the bank that you know how to use credit responsibly in order for them to approve you. This means that you’ve exemplified yourself as a good customer for at least 6 months. If your cards are... read more »

11 (Need-to-Know) Credit Card Debt Settlement Facts

11 (Need-to-Know) Credit Card Debt Settlement Facts

If the burden of overwhelming credit card debt has you feeling like there’s nowhere to turn, consider a solution that works for many people just like you: Credit card debt settlement. But debt settlement isn't for everyone - here are 11 credit card debt settlement facts that can help you decide if it's the correct solution to your financial woes: 11. Debt Settlement Companies Are For-Profit Enterprises That means they make their money from people like you, who they are... read more »

What Happens to Credit Card Debt During Bankruptcy?

What Happens to Credit Card Debt During Bankruptcy?

Bankruptcy isn’t as popular an option as it used to be for dealing with debt. While it may not be the first resort, however, it’s still a necessary alternative for many, and credit card debt is often a driving factor for considering this serious step in finance management. Before you consider bankruptcy as a viable option for overwhelming debt or crippling payments, it’s wise to understand how the process will affect your credit card obligations, specifically. Here are... read more »

5 Steps to Pay Off Credit Card Debt

5 Steps to Pay Off Credit Card Debt

Credit card debt is incredibly common in America, but letting it get out of control can result in financial destruction. Follow these steps to effectively pay off your debt and enjoy financial freedom. 1. Assess the damage Sometimes when people are in major credit card debt, they feel overwhelmed and may stop opening the bills. If you’re going to take control of your credit card debt, it’s time to take the music and tally up the damage. It may be difficult to take an honest... read more »

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