Three Simple Ways in Reducing Your Credit Card Debt Video

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Three Simple Ways in Reducing Your Credit Card Debt

Three Simple Ways in Reducing Your Credit Cards Debt Welcome to the Discount Trendsetter show, I am your host D. Gulley, your money saving coach, here to show you how to save money. Okay ladies and gentlemen, today’s show is for everyone. I have a question for you. Are you swimming in credit card debt? Recently, I was having a conversation with the group of my girlfriends and realized one of my friends had recently lost her job. So we were all trying to come up with creative ways to help her reduce her expenses and save money. Someone brought a credit card and it comes to find out my friend has already max down all of her credit cards. I was like “No, what are you going to do?” So it really kind of inspired me to do today’s show, so are you swimming your credit card debt, yes or no. Well, on today’s show I am going to give you the very simple ways to reduce your credit card debt and stay out of debt. So let’s get started. Number one, the first thing you want to do is to reduce your high interest rate credit cards first. For example, if you have a credit card that is incurring interest at 17.9% and you have another one that is incurring interest at 5.9%, okay let’s be smart here the 17.9% credit card is causing you way more money. So you want to get rid of this credit card first. There are several different ways to do this. Number one, you can try to find a credit card company that’s offering a special deal. Many of them have these credit card offers where they will allow you to move your balance over with a zero APR for 69 months. These means your balances would not be acquiring any new interest and your monthly payments will all go towards your balance because if you look at your credit card statements right now the money you send in every month now nine times out of 10 is paying down your interest and not your action with credit card balance. So this is why you can get your statement every month in the mouse really basically seem the same. So ladies and gentlemen get rid of your high interest rate credit cards. Now if you don’t want to take on additional or if you don’t want to get a new credit card then basically you can work with the lenders you already have. Call Bank of America, Washington Mutual, or whoever you have your credit card suite. Call them up and basically, negotiate new terms with them. Tell them this is not working for me. I want to reduce my APR rate. Now some banks will work with you, some won’t but it’s up to you to be proactive and take the initiative to try to make things happen. I want to share a little information with you. One of my formal boss use to always say “Never take a no from someone who can’t give you a yes.” So when you call up your lenders don’t try hard bow with the customer service representatives, they can do anything for you. You want to make the deal with the manager because this is the person who can say “yeah” or “nay” to your new terms and you want the deal to go down right then and there. You don’t have 30 days to wait. Make everything urgent because you can use the money today, right. Okay. So definitely make the call and the last thing you want to do is to basically right now I am encouraging everyone to reduce your expenses. It doesn’t matter if you have lost your job or not. Right now this economy is crazy. You want to be prepared no matter what. So go ahead and start reducing your expenses today, you don’t need a receipt just do it. So try to double up on your credit card payments. I know it maybe a little hard but give up cable, give up some of the features on your cell phone. Do what you have to do to get your debt reduced because in the end this money can be used in other areas. You can put it in your savings account. You can put it towards buying a house. You can put it towards to spend off other debt but the key is to go ahead and make it happen right now. Go ahead and reduce your expenses now so that you can go ahead to pay off your credit card debt. I don’t want you sinking in the credit card debt, I want you to be proactive and make it happen. Well, it is now time for the financial tip of the week, stay tuned I’ll be right back. Before the break I share with you some simple ways to reduce your credit card debt. So I want to hear some good feedback. I want to know if you made the calls, if you found the credit card company willing to work with you and if you really say that money come on down I really want to know that this information is helping you out. So send emails, send me a video comment. Let me know you’re success stories. Well, this concludes today’s episode don’t forget to subscribe to the videos on YouTube, tell a friend and visit www.discounttrendsetter.com for more information. Congratulations to the winner of the Maryland Black window CD. Check out her name listed below this young lady was able to guess how much I pay for the booths I had on last week’s episode. So once again congratulations. Until next week I am signing off. Peace.

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Three Simple Ways in Reducing Your Credit Cards Debt

Welcome to the Discount Trendsetter show, I am your host D. Gulley, your money saving coach, here to show you how to save money. Okay ladies and gentlemen, today’s show is for everyone. I have a question for you. Are you swimming in credit card debt? Recently, I was having a conversation with the group of my girlfriends and realized one of my friends had recently lost her job. So we were all trying to come up with creative ways to help her reduce her expenses and save money.

Someone brought a credit card and it comes to find out my friend has already max down all of her credit cards. I was like “No, what are you going to do?” So it really kind of inspired me to do today’s show, so are you swimming your credit card debt, yes or no. Well, on today’s show I am going to give you the very simple ways to reduce your credit card debt and stay out of debt. So let’s get started.

Number one, the first thing you want to do is to reduce your high interest rate credit cards first. For example, if you have a credit card that is incurring interest at 17.9% and you have another one that is incurring interest at 5.9%, okay let’s be smart here the 17.9% credit card is causing you way more money. So you want to get rid of this credit card first.

There are several different ways to do this. Number one, you can try to find a credit card company that’s offering a special deal. Many of them have these credit card offers where they will allow you to move your balance over with a zero APR for 69 months. These means your balances would not be acquiring any new interest and your monthly payments will all go towards your balance because if you look at your credit card statements right now the money you send in every month now nine times out of 10 is paying down your interest and not your action with credit card balance.

So this is why you can get your statement every month in the mouse really basically seem the same. So ladies and gentlemen get rid of your high interest rate credit cards. Now if you don’t want to take on additional or if you don’t want to get a new credit card then basically you can work with the lenders you already have. Call Bank of America, Washington Mutual, or whoever you have your credit card suite. Call them up and basically, negotiate new terms with them. Tell them this is not working for me. I want to reduce my APR rate.

Now some banks will work with you, some won’t but it’s up to you to be proactive and take the initiative to try to make things happen. I want to share a little information with you. One of my formal boss use to always say “Never take a no from someone who can’t give you a yes.” So when you call up your lenders don’t try hard bow with the customer service representatives, they can do anything for you. You want to make the deal with the manager because this is the person who can say “yeah” or “nay” to your new terms and you want the deal to go down right then and there. You don’t have 30 days to wait. Make everything urgent because you can use the money today, right. Okay.

So definitely make the call and the last thing you want to do is to basically right now I am encouraging everyone to reduce your expenses. It doesn’t matter if you have lost your job or not. Right now this economy is crazy. You want to be prepared no matter what. So go ahead and start reducing your expenses today, you don’t need a receipt just do it. So try to double up on your credit card payments.

I know it maybe a little hard but give up cable, give up some of the features on your cell phone. Do what you have to do to get your debt reduced because in the end this money can be used in other areas. You can put it in your savings account. You can put it towards buying a house. You can put it towards to spend off other debt but the key is to go ahead and make it happen right now. Go ahead and reduce your expenses now so that you can go ahead to pay off your credit card debt. I don’t want you sinking in the credit card debt, I want you to be proactive and make it happen.

Well, it is now time for the financial tip of the week, stay tuned I’ll be right back. Before the break I share with you some simple ways to reduce your credit card debt. So I want to hear some good feedback. I want to know if you made the calls, if you found the credit card company willing to work with you and if you really say that money come on down I really want to know that this information is helping you out.

So send emails, send me a video comment. Let me know you’re success stories. Well, this concludes today’s episode don’t forget to subscribe to the videos on YouTube, tell a friend and visit www.discounttrendsetter.com for more information. Congratulations to the winner of the Maryland Black window CD. Check out her name listed below this young lady was able to guess how much I pay for the booths I had on last week’s episode. So once again congratulations. Until next week I am signing off. Peace.

Transcription by: Scribe4you Transcription Services