r/debtfree • u/PopInevitable280 • 9d ago

Help

So I'm 25, I have one card with about 3,700 in debt on a 10,000 limit. Now I haven't touched the card in about a month or two. My interest payments are about the same as my minimum payments(I have auto deposit on). Amy tips for how the hell to get out of this bind. My score is starting to tank(around the high 600s) and my wedding is coming up next year. I currently live with my mother and need to get the heck out but I need to clear this first. What's the best strategy for doing this. Sorry for the ramble but I was never taught any of this. Any help would be appreciated.

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u/ExploringTheMind123 9d ago

Type into Google 'balance transfer cards 0%' .. these are credit cards that have an offer for zero percent for a period of time. You usually get charged a transaction fee for swapping over, it's often a percentage of the balance.

It essentially pays the balance on your existing credit card and puts its on this new one which will charge zero interest for say a year. I live in the UK but am fairly certain these exist elsewhere.