Have you carried a balance on your credit card for too long?
You're not alone. Many people have been carrying a balance on their credit card for more than five years. Credit card debt can become a growing burden that eats into your emergency funds. And, if it leads to late payments or into using too much of your available credit, it could hurt your credit score. That could mean a higher interest rate the next time you take out a loan.
So how do you get out of credit card debt faster?
Make a budget. You've got to know how much you're spending on what and when to cut your spending and avoid or reduce debt. Making a budget will help you to identify things you spend money on frequently.
Create a payoff plan. Determine how much you can afford to pay off on your outstanding debt each month. Whether you pay off the credit card with the smallest balance first or pay off the balance on the card that charges you the most, the point is to make a plan to pay off your debt and to stick with it.
Switch to ECU Visa. Moving all your credit card balances to one low interest rate credit card is a smart way to pay off your debt faster. ECU's Platinum Preferred Visa offers a low fixed 9.90% APR* and you can earn points with every purchase you make on your card! Join the thousands that have switched to ECU Visa and spend more time doing the things you enjoy and less time worrying about debt.
Make the Switch to ECU Visa Today!
*APR information is accurate as of May 1, 2021, and is subject to change without notice. For more information, see the Visa Cardholder Agreement.
