Credit card debt in the U.S. hits all-time high of $930 billion—here's how to tackle yours with a balance transfer

Take note that balance transfer cards often set maximum limits on the amount of debt you can transfer , and you can't complete a transfer between cards issued from the same bank. Make sure you read the fine print before requesting a transfer.Before completing a balance transfer, make sure you have a repayment plan in place so you pay off debt prior to the intro 0% APR period ending. Otherwise, you'll wind up paying interest again on lingering balances.

A personal loan provides you with a fixed amount of money over a fixed time period and at a fixed interest rate. While interest rates for personal loans are rarely 0%, they're often lower than keeping a balance on your current credit card.If you have less-than-stellar credit , you may run into trouble qualifying for a balance transfer credit card or personal loan.

This option may make sense if your debt isn't too high and you have willing family or friends. Just make sure you set up a repayment plan before borrowing any money and stick to it so you don't risk damaging your relationship. Information about the Amex EveryDay® Credit Card has been collected independently by CNBC and has not been reviewed or provided by the issuer of the card prior to publication

Where does your writing staff get its facts from? This is Debt Clock . org stat for Credit Card Debt: $1,125,400,359,053.00 Yes that is over $1 TRILLION. Highlighted in BLUE.

THE FED BANK issued all this debt out of thin air U pay them back with interest! A SCAM PONZI END THE FED AUDIT THE FED!! imo

I can proudly say I have zero credit card debt, do not own a credit card and have a very low credit score because I don't barrow money period. DaveRamsey

That’s only two mike Bloomberg campaigns. What me worry?

Hope it goes to 100 TRILION AND CRASH the credit card SISTEM for good!!!!!

Teach kids to be responsible with money. Oh wait that would mean your debtor wouldn’t be able to get 0% interest for the year which ends in 3 weeks. than jack monthly interest to 35-40% applications.

WWTD... File bankruptcy ( he did 7 times )

Sad

Eh better to wait and see what the virus does lol Maybe you'll die and wont have to pay anything

Wow... Mike Bloomberg could have paid off the entire country’s credit card debt if he hadn’t run for President 😔

Record debt. Now we need record fraud. I think we'll hear about the latter soon as the tide has officially rolled out on the stock market. It's nearly 530PM on the east coast, do you know where your money is?

Tackle it by not using the damn thing. Pay it off every month.

Buy crypto.... bye

isn't that more than the National Debt

Still seems low

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