Credit Card Debt

 

One of the reasons that this book will focus heavily on eliminating your credit card debt is because most people have a large amount of credit card debt and this debt is the worst kind to have. 

It often has a higher interest rate and is the type of debt that can cause the most trouble on your credit reports as well. 

 

If you have multiple types of debt, it is recommended that you focus on paying off your credit card debt faster than you pay the other debts – just don’t forget to make the minimum payments on all your debts at all times so that you won’t default!

One of the things that makes credit card debt so undesirable is the high interest rates that it often carriers with it.  If you have any credit card debt, the first step towards eliminating it is to find out really want your debt level is and how much interest you are really paying.

Below you will find a worksheet for you to fill out with your credit card information, exactly as it is today. 

Grab your credit cards and old statements (or call the credit card companies to find out this information if you can’t find your old statements), and fill out this worksheet.

 

Card Description or Name	Current Balance	Current Interest Rate	Current Minimum Payment
Example: Mary’s Visa Card	$2,425.19	15.99%	$145.12