question category: Money Saving Tips

What is the quickest way to pay of a credit card
Submitted on: 5th Nov 2008 by Non-Member | Total Answers: 1

Cut it up, throw it in the bin and set up a direct debit with your bank

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Paying off credit card

Needless to say, stoping using your credit card is essential. Paying off as much as you can on the credit card with the highest rate of interest and the minimium payment on the others, until you have no credit card debt at all is another good tip. If you can get your balance transferred to a 0% balance transfer card - even better!

In an ideal world we would use credit cards as a way of conveniently paying for things and getting over a month of free credit. We'd then pay the full amount off every month. However too many of us use them as a form of loan and don't pay them off every month. They then become an expensive form of finance.

Submitted on: 5th Nov 2008 by TA Member

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