(CNN) — Almost two in five U.S. households carry a balance on their credit cards, according to CNN. The average debt load for those who roll balances from one month to the next is $16,048.
That number may seem huge, but there are ways to pay down the debt which best fit your situation.
One way is through a balance transfer. This way you put your debt on one card with zero interest for a set time.
The no-interest rate is by far the biggest reason to transfer balances. These cards apply no interest on balance transfers and new purchases for between six months and 21 months. This is a decent amount of time to pay down the debt without worrying about any build…
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