Credit Card Debt Consolidatrion

Learn the Power of
Credit Card Debt Consolidation

Many of us have yet to hear and learn about the concept and practice of credit card debt consolidation.  I know I had not thought of it on my own. I really did not learn about it until one of my friends and I were discussing money and she expressed an interest in this action called credit card debt consolidation.  When I expressed surprise and intrigue, she explained that all that is necessary is the combination of all balances on all credit cards into one credit card company or other financial institution.  The move means many things

First, credit card debt consolidation means one can let go of having to “juggle” the bills, or of having to—as my mother would say—rob Peter to pay Paul.  Instead of having, say, six credit card bills (with six different interest rates, additional fees, etc.), you have one (with one annual fee, one interest rate, and one finance and processing charge).

Next,  credit card debt consolidation means saving time.   With the above scenario, which more of us than not know all too well, the time devoted to filing, calculating and all the other tasks related to bill payment is drastically reduced.  And if online payment is established, the elimination of the time it used to take to write checks, drive to the post office, etc. would shrink the process to a matter of just a few minutes.

Next, credit card debt consolidation typically means a major reduction of interest and other rates in general.  I know one person who has credit cards with up to 29% interest charges on each card.  I know another person who did the wise credit card debt consolidation move and now has not only ONE single interest rate to be concerned with but has negotiated that rate down to something like 1%!

And finally, the credit card debt consolidation effort does not mean haggling and hassling and humiliation.  Rather, depending on the government and/or financial institution you choose to go with, the application process takes about five minutes (or less, online, but be careful to find a SECURED site and therefore to take a little time researching that the offer is legitimate in the first place).

So, to cut your payments by fifty or sixty percent, cut your bill payment time down to almost nothing and shave years off your stress factor and therefore your aging process…you can become happier, healthier (at least mentally), and better off financially.  Now that I think about the offers for doing credit card debt consolidation that I get in the mail, I realize, too, that it is possible to build up a better line of credit with one financial institution, have all amounts owed on one card, and have, essentially, a higher credit limit overall. The higher overall credit limit then might be more attainable than on each individual credit card.  Remember, though, the goal here is not to amass more debt.