My little discussion about bad credit credit cards

Add what you would be paying in minimum payments on the credit card you just paid off to the regular payments you were making, and apply that to the new credit card. This snowballing action will let you pay more of your debt as you reduce your balances more drastically. When you free up a card with a low interest rate during your snowball, consider moving your balances to that card. Doing so will free up even more money to pay down your debt, that you might have otherwise been paying in interest. Many financial advisors find that snowballing gives consumers a rational and rewarding method to make payments and reduce credit card debt.

08/07/09 13

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