If the high rates on your credit cards are making it tough to pay off what you owe, these strategies could help.
Credit cards offer undeniable convenience for shoppers, providing a quick and easy payment method at the register or a buffer between paychecks when cash is tight. The transaction approval process is swift, and for those with rewards cards, there's the added benefit of earning points or cash back on purchases.However, this convenience comes at a price. Credit card interest rates can be steep, with the current average hovering around 24%.
With this type of program, the expert you work with will try to negotiate with your creditors on your behalf to secure lower interest rates . This can result in big savings on what you owe.You should be aware, though, that the rules of the debt management program may require you to close your credit card accounts which could temporarily impact your credit score. There may also be fees associated with the program, so carefully consider the costs and benefits before enrolling.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Stock market today: Wall Street hits records as a slowing economy boosts hopes for lower ratesWall Street's record-breaking rally kept going after weak reports on the economy kept the door open for possible cuts to interest rates.
Read more »
Gold continues positive run as investors foresee lower interest ratesGold (XAU/USD) rises on Friday, continuing its run of positive days as investors become increasingly optimistic the Federal Reserve (Fed) will lower interest rates sooner than previously thought, and the US Dollar (USD) softens, adding a lift to Gold which is predominantly bought and sold in Dollars.
Read more »
June jobs report indicates cooling labor market, potential for lower interest ratesThe June jobs report shows a healthy addition of 206,000 jobs, but also signs of a cooling labor market, which could lead to lower interest rates.
Read more »
Higher Covid-19 Vaccination Rates Linked To Lower Prevalence Of Pediatric AsthmaAnuradha Varanasi is a freelance science writer. She writes on the intersection of health/medicine, racial disparities, and climate change. She earned an MA in Science Journalism from Columbia University in New York City.
Read more »
ECB can continue to gradually lower rates, Panetta saysECB can continue to gradually lower rates, Panetta says
Read more »
Calls offering lower electric rates: Who they're from, how to stop themAlmost every day, the 8 On Your Side team hears from viewers about phone calls offering to lower their electric rates.
Read more »