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Paying Off Credit Card Debt: The One Tip You Haven’t Tried

August 20, 2015

Most adult Americans have some sort of debt, regardless of the source; student loans, car loans, home loan, credit cards, etc., everyone would like to have less.

Often the most costly source of debt is credit card debt. Credit cards are constantly charging you interest and that $100 purchase could end up costing you double once you pay it off.

Daily Finance Articles recently published, “Credit Card Debt: 6 Ways to Pay off Your Balance.”

Some of these tips are very common advice; Pay more than the minimum payment due, negotiate with the credit card companies [for a lower rate], but one very interesting idea is to pay your credit card bill fortnightly instead of monthly.

Credit card companies charge interest daily, by making your payments early or more often you can cut down not only the time it takes you to pay off the debt but also the amount of interest you pay on it. You may not see an instant change in your balance but it is better in the long run.

Read the additional tips here.

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