Did you know the average American household carries a credit card balance of $9,000? Here are some simple steps you can take to avoid increasing your personal credit card debt. 

<div class="block">Did you know the average American household carries a credit card balance of $9,000? Here are some simple steps you can take to avoid increasing your personal credit card debt. </div>
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Wake Up With Cheddar

Stretching Your Dollar: Smart Ways to Save on Credit Card Interest

Hello. Hello friends. Welcome back to News. I'm Baker now I'm in a and now to stretching your dollar. Mm Yes, indeed. So did you know Hannah, that the average American household carries a credit card balance of $9000 across the US. We owe $1 trillion just in credit card debt and that figure has climbed by just 250 billion in the last two years alone. But there are some steps out there that you can take to avoid increasing your personal credit card debt. Take a look at this with cash tight. Many of us are relying on our credit cards but those bills add up quickly and can put us into debt in a very bad way right now is a really good time to try to reduce spending, especially if you're putting money on credit cards. So anticipating that your bills will go up due to higher interest. It's important now to try to cut back and look for ways not only to save but also for added income interest rates are up as high as 20%. So using that card can be a tab hard to manage before you open a new credit card or increase your line of credit. Think about how it will affect your bottom line when considering a balance transfer, you really need to crunch the numbers. So check and see if there's a balance transfer fee involved. What that percentage is. It's very rare to see a balance transfer at 0%. The interest is 0%. Meaning once you place the balance transfer onto the new card, the interest rate will be zero for a certain period of time. And if you're looking to consolidate your debt to make one single payment, there's a lot to consider consolidation is kind of an umbrella term and there's a lot that falls underneath that. Some of that are loans. Some of it could be considered debt settlement and some of it could be considered a balance transfer. So understand what type of consolidation you're looking at. If you're current with your credit card payments, calling your credit card issuer to negotiate your interest rate can help to lower the payments. There's nothing wrong with calling your credit card company and saying I always pay my bills. Is there a lower interest rate product for me? If not think about switching to a card with lower interest, try to keep up with your balances as best you can if you're really in dire straits and need a bankruptcy attorney or debt consolidation, make sure you pick a reputable person. I'm Janice Lieberman and that's the real deal?