How to pay off Credit Card Debt Fast | Less than 6 Months

According to my Credit Score, I owe around $12,723, and I plan on paying off in less than 6 months, although I could pay it off in one payment.

And that’s why in this video im going to give you guys my plan to how I owe 12,723, and I pay 0 interest and the different ways to get rid of this debt without paying interest.

Im going to answer these questions.
The fastest way to pay it off?
How to pay no interest?
And if you should just default?

How to pay off credit card debt fast | Less than 6 Months

One Rule: Once you're done, stay out of credit card debt. Use the card with rewards and points and pay them off in full, and that way, you win, and the credit card company doesn’t make 30% by charging you interest.

1. Audit: this how we know how much we owe and to who and at what price.
- List Credit Cards, Interest rate and amount
- ( call in your credit if you don’t know the APR or go to the App)
Example:
Apple rewards Card: 27.49% and I owe $5,014.53 (it's 0% because of promo)
Discover it Card: 16% and I owe $310 (it's 0% because of promo also)
Chase Unlimited Card: 26.49% and I owe $1999.62 ( 0% because of promo)

What to Do and which one to pay Off and How? Avalanche Method saves us Money
Step 1: Organize the Card in order of high APR
Step 2: Pay More money towards that card and the minimum on the others
Step 3: repeat

Tip: I pay 560 on average a week towards my cards; you can start 100 bucks or an extra 60; the key is to step by step lower the balance.

2. How to Avoid Paying Interest
Tip: transfer the balance to another card with a promotional Period
How: its Call a balance transfer
Story:
- I needed cash, so I would take cash advances and do deals with them
- Now once I had to pay interest, I would transfer the balance to a card that gave me 12-21 months to pay it off interest-free
- Why? You have to pay 3% to transfer the balance, but that’s a lot better than 27%
Instructions:
- Get a balance transfer card
- Transfer the balance
- Pay your cards in full before the time runs out
Video on the best Cards: youtube.com/watch?v=X3kNqHWezKU

3. Should you Default ( I’ll make an entire video on this later on)
Story: I remember I got my first credit card, and I spent 3k and maxed it out, and then 1-2 months later, I lost my job.
- I thought about, and some people recommended I stop paying but just like you I came to videos and books to find solutions
- In the end, if I would have stopped paying I would have been financially screwed over
- Plus theirs a lot more benefits to solving problems you get yourself into, than defaulting and banks know that and respect that.


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Disclosure & Educational Disclaimer:
Some links in this video may be affiliate links, and I may earn a commission. Content is educational and accurate as of posting; offers may change. I’m an accountant but not your accountant; always consult your own accountant/CPA or financial advisor. No income or results are guaranteed.