Credit cards are great but require self restraint. It just makes it too easy at times to spend money and you don’t notice the total until the end of the year. So this is the greatest debt builder but we have a great way to combat this.

  1. List you credit cards in interest order.
  2. Determine which credit cards you will terminate because as a rule of thumb, you don’t need more then 3 credit cards ever.
  3. Call each credit card company in order and ask for a lower interest rate and “no fee 0% APR” transfer.
  4. Start transferring balances from the new adjusted higher rates to the new lower rate.
  5. Pay off the remaining balances on the highest credit card balances first.
  6. Snowball your new debt free life.
  7. As you pay off the debt, cancel the card on balance completion until you have 3 credit cards or less left.
  8. Pat yourself on the back because you just terminated you debt.

It’s that simple to do. It may take some time but this method is the best and cheapest method to remove these hurdles from your path to getting rich.

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