I had credit card balances once and realized how much money I was giving away. I took out a home equity line of credit at a much lower interest rate and paid off the credit cards. Then went to work paying off the line of credit. I don’t charge against credit cards unless I can pay the balance each month. Emergency or unexpected expenses are charged to a credit card but paid off from bank savings unless significant. In that case, a credit card would be used and the balance paid from the line of credit.
There are smart ways to use credit cards and reap the benefits of reward programs. The key is don’t charge more than you can afford to pay-off each month.
There are smart ways to use credit cards and reap the benefits of reward programs. The key is don’t charge more than you can afford to pay-off each month.