Americans currently owe more than $1 trillion in collective credit card debt and that number has grown in recent years. And, given how widespread credit card debt is, there’s a chance that you share in the national credit card debt total. If that’s the case, you probably want to eliminate your credit card debt as quickly as possible.
After all, credit card debt is expensive thanks to interest charges, and interest rates on these revolving accounts are usually variable. So, as the federal funds rate was hiked over the past two years, your credit card interest rates probably went up, too.
As your minimum payments grow, you …
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