Here are the two most popular ways of paying off credit card debt.
which offers up to 21 months of 0% financing . Using an offer like this, you could transfer the combined $5,500 in credit card debt from above and avoid paying the 15.74% and 22.24% interest over the time it takes you to pay it off the balance.
Or if you want a card that will reward you for everyday expenses once you're ready to use your credit card regularly again, thecomes with no annual fee and rewards you with 2X Membership Rewards® points at U.S. supermarkets on up to $6,000 per year in purchases , plus 1X Membership Rewards® points per dollar spent on all other purchases.
Note that balance transfer fees range from 2% to 5% per transfer, but you could potentially qualify for one without a fee . If you do choose to do a balance transfer, you'll want to have a clear plan to pay off the debt within the introductory 0% interest period, otherwise you might face a really high APR later on.Though one debt repayment plan is based on math and the other is based on mindset, they are both equally beneficial if you use them successfully.
So don't worry too much about researching or crunching all of the numbers . Instead, just begin and keep your focus on the path ahead. Information about the Amex EveryDay® Credit Card and Citi Simplicity® Card has been collected independently by CNBC and has not been reviewed or provided by the issuer of the card prior to publication.Opinions, analyses, reviews or recommendations expressed in this article are those of the CNBC Select editorial staff’s alone, and have not been reviewed, approved or otherwise endorsed by any third party.
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