Strategies to pay down mounting credit card debt

The average credit card debt per borrower has increased by 8.5% year over year to $6,218, TransUnion finds. With consumers under pressure, it can be difficult to find wiggle room in budgets to pay down credit card debt.
Discover Personal Loans Vice President Dan Nickele joins Wealth! to give insight into current levels of credit card debt and how Americans can manage it.
Nickele explains how personal loans can aid in debt management: "One of the great things about a personal loan is that you can check your rate without impacting your credit report, so you can explore your options. And I think options are a consumer's best friend, especially somebody who's trying to manage their debt. So I would encourage somebody who thinks they might have a savings opportunity to go out and figure out what rates they can actually earn, explore their options for payments and rates."
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#creditcard #debt #credit

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[@fsmoura]

_"Strategies to pay down mounting credit card debt:_
_Strategy #1: Stop spendi-"_
F-k this s-t! (ノಠ益ಠ)ノ

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[@jmr152]

30% towards "wants" and 20% towards "savings." I disagree with that ratio. The "wants" should be less if you want to get out of debt. Too many don't know how to give that up for a while. If people tried using cash instead of plastic, they'd have a better grip on the importance of money. If you don't have it to spend, don't spend it. So, instead of the ratio given by the speaker, save 30% and drop that want-list down to 10 to 15% for a while. Maybe even less. Wants aren't needs. Learn to differentiate the difference. You'll be out of debt sooner than you think.

[@cakeismtrader4227]

Basically stop paying water electricity natural gas gasoline No cell phone and stop eating and debt will drop because you might be able to pay your property tax

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[@user-qr5bm7ek6r]

Disagree get baby loans baby credit limit TransUnion is loser 🤡🤡🤡🤡😌😌😌😌😌