Home » Finance

Consolidate Credit Card Debts: A Solution To Your Debt Problem

Mar 7, 2008
To every problem, there is always a solution. If you are buried in credit card debts and collectors are pounding on your door, you may feel that you are standing at the edge of the cliff and anytime you may fall and die. It is not yet the end of the world for you. You can consolidate credit card debt as a way out and help yourself.

Just bear in mind that you are not unique. Millions of other people all over the world are in the same dilemma, buried beneath mountains of debts which are a result of uncontrolled spending in the past. However, there is still a way to help you out.

To consolidate credit card debts means to gather all your smaller credit cards into one or two bigger ones. The first thing you should do is to count and write down all your debts. When you finish doing this, you will find out want amount are your debts rising at and how much of it do you afford to pay. Now think of the fact that if you know which your real status is, you can make your option for a credit card with a not very high APR and even apply for another card in which you would transfer a sum to it.

The first thing you must consider when you choose to consolidate credit card debts is to study the APR or the annual percentage rate a credit company offers.

This is available when you apply for a new card to consolidate all the debts you have on it. Be careful that the APR of the new bank card is lower than the APR on your other cards.

The short term APR rates represent the majority of APR rates credit card suppliers advertised. Companies use this in order to attract you to consolidate your debts with them.

By the word short term, this means that the low APR rates will be only applicable for an initial period of a few months or so, but after a specified period the APR rate will increase. This, in short, is just a grace period to help you get up and get back on your feet.

It is important for you to know what the APR rates would be after the initial period. However, if you can convince your current credit card supplier to lower your APR so you can catch up with your payments and they agree, it will make things easier for you.

An alternative to consolidate credit card debt can be to borrow some money from a financial institution or even a bank, considerable enough to cover the debts you have already had. You and the bank will decide together what monthly rate to be paid.

What is important is before you make any move or decide to consolidate credit card debts you should already have a clear understanding about what it is all about so you can make a wise choice. However, all methods would prove useless if you do not start to alter your spending habits. You will still end up in the same rut if you do not control your spending.
About the Author
Searching for consolidation of credit card solutions? Stuck in credit card debt and not sure how to resolve your credit card debt problem? Credit Card Consolidation Secrets is a massive resource on credit card debt consolidation and credit card debt consolidation loans.
Rating:
Please Rate:
(Average: Not rated)
Views: 136
Print Email Report Share
Article Categories
    • Artists
    • Gambling
    • Humanities
    • Humor
    • Movies
    • Music
    • Photography
    • Tattoos
    • Television
    • Classic Cars
    • Motorcycles
    • Recreational Vehicles
    • SUVs
    • Trucks
    • Vans
    • Branding
    • Business Opportunities
    • Careers and Jobs
    • Corporate
    • Customer Service
    • Direct Mail
    • Entrepreneurship
    • Ethics
    • Financing
    • Franchising
    • Home-Based Business
    • Human Resources
    • Import and Export
    • Leadership
    • Management
    • Market Research
    • Marketing and Advertising
    • Negotiation
    • Network Marketing
    • Networking
    • Organizational
    • Presentation
    • Project Management
    • Public Relations
    • Small Business
    • Strategic Planning
    • Team Building
    • Telemarketing
    • Training
    • Data Recovery
    • Databases
    • Games
    • Hardware
    • Networks
    • Operating Systems
    • Programming
    • Security
    • Software
    • Spyware and Viruses
    • Ask an Expert
    • College and University
    • Home Schooling
    • K-12
    • Languages
    • Online Education
    • Psychology
    • Coffee
    • Cooking
    • Gourmet
    • Recipes
    • Wine and Spirits
    • Acne
    • Aerobics
    • Alternative Medicine
    • Beauty
    • Cancer
    • Cosmetics
    • Depression
    • Diabetes
    • Diseases and Conditions
    • Fitness Equipment
    • Fitness
    • Hair Loss
    • Heart Disease
    • Medicine
    • Men's Health
    • Muscle Building
    • Nutrition
    • Skin Care
    • Supplements and Vitamins
    • Weight Loss
    • Women's Health
    • Yoga
    • Arts and Crafts
    • Babies
    • Collecting
    • Elderly Care
    • Genealogy
    • Hobbies
    • Parenting
    • Pets
    • Pregnancy
    • Woodworking
    • Feng Shui
    • Gardening
    • Home Appliances
    • Home Security
    • Interior Design
    • Landscaping
    • Affiliate Programs
    • Article Marketing
    • Auctions
    • Audio
    • Banner Advertising
    • Blogging
    • Broadband
    • Domain Names
    • E-Books
    • E-Commerce
    • Email Marketing
    • Ezines and Newsletters
    • Forums
    • Internet Marketing
    • Link Popularity
    • Pay-Per-Click
    • Podcasting
    • RSS
    • Search Engine Marketing
    • Search Engine Optimization
    • Security
    • Social Media
    • Spam
    • Video
    • Viral Marketing
    • Web Design
    • Web Development
    • Web Hosting
    • Copyright
    • Cyber Law
    • Intellectual Property
    • National, State, Local
    • Patents
    • Regulatory Compliance
    • Trademarks
    • Buying
    • Selling
    • Baseball
    • Basketball
    • Boating
    • Cycling
    • Extreme Sports
    • Fishing
    • Football
    • Golf
    • Hockey
    • Hunting
    • Martial Arts
    • Running
    • Scuba Diving
    • Soccer
    • Swimming
    • Tennis
    • Dating
    • Divorce
    • Marriage
    • Weddings
    • Astrology
    • Buddhism
    • Christianity
    • Faith
    • Hinduism
    • Islam
    • Judaism
    • Meditation
    • Metaphysical
    • New Age
    • Cable and Satellite TV
    • Cell Phones
    • Communication
    • Gadgets and Gizmos
    • GPS
    • Satellite Radio
    • Video Conferencing
    • VoIP
    • Addictions
    • Coaching
    • Goal Setting
    • Motivational
    • Stress Management
    • Time Management
    • Clothing
    • Electronics
    • Fashion
    • Gifts
    • Jewelry
    • Causes and Organizations
    • Environment
    • History
    • Holidays
    • Men's Issues
    • Nature
    • Philosophy
    • Politics
    • Women's Issues
    • World Affairs
    • Air Travel
    • Camping
    • Cruises
    • Destinations
    • Outdoors
    • Article Writing
    • Book Reviews
    • Copywriting
    • Fiction
    • Non-Fiction
    • Poetry
    • Quotes
    • Screenplay
    • Tools and Resources