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ProShopper93

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What's the best way to handle credit card debt, if you don't want to go through debt consolidation?

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Ask fo a loan or get a credit card with zero percent interest.

9 Contributions
65 People Helped

Credit Card Debt

Try to use a new card with a balance transfer feature.  These typically require a fee of 2 percent of the balance transferred but have no interest for up to 18 months, some longer.  By using a balance transfer, for example, for $10,000, you would pay a fee of $200 which is added to the balance.  You do not need to pay.  

If you continue to make a full payment, the amount you were paying on the card for which the balance was transferred, you will pay down the principle faster.

Top Contributor
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There are many different options depending on your situation.  We have no idea of your credit score, own a home, have retirement accounts, how much debt, what type of money you make. First off by your name you need to stop shopping....even if you find something 50% off, you are still spending money.

There are many factors to look at that without it allI can do give you a list of things, many of which may not work at all and hurt you depending on your situation.  One person posted apply for zero percent card.  You can rack up a lot of inquires that will hurt anything else you try.  If your score is not over 700 near 800 then do not try that. You will at best get a card with maybe 3k on it and it sounds like you may have a lot more debt than that.  And the zero percent is only for a short time (1-2 years). Since we do not know what cards you have at this time, we can not tell you if there is a chance to use any transfer options you have with current cards. You can alaways ask for an increase and transfer to help some interest costs.

If you have many high interest cards, you can borrow from a 401k. Many would advise against this, but when looking at +15% cards this can help.

You can take a second mortgage out or refi your home to get cash out for consolidation. Again you need a home and you need a decent credit score of 650+

Look up Dave Ramsey and start reading and following his plan.  I have never used it, but know a lot of people in bad situations that did and really pulled things around.

You can contact the credit card companies yourself and try to broker reduced fees and interest.  Be aware that anything they give you, they charge off and this will remain on your credit reports for 7 years.

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