The total amount of credit card debt nationwide just keeps climbing. Here's how to get rid of your card debt now.
Credit card debt has been a growing issue nationwide over the last couple of years and it appears that the issue isn't under control just yet. According to the latest household debt report from the Federal Reserve Bank of New York, credit card debt hit a staggering $1.17 trillion in the third quarter of this year, up from $1.14 trillion in Q2 2024.
Transfer your balance to a new cardA balance transfer card can also be an effective tool for paying down credit card debt, especially if you can secure one with a 0% introductory APR. Many balance transfer offers allow you to transfer high-interest balances to a new card with no interest for a period, usually between 12 and 21 months. This interest-free window can give you time to make significant progress on your debt.
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