For years, I didn’t have credit cards because I had majorly screwed up my credit and had gotten in over my head. Now, I’m financially responsible and use credit cards for everyday purchases – and pay them off as I go. I avoid paying interest fees because I pay the charges off before interest accrues; it’s the best way to use credit cards in my opinion. If you’re looking for ways to pay down your credit card debt, take a look at this infographic brought to you by Imgur.com. They’ve broken down the steps to becoming credit card debt free in an easy to read infographic:
8 Comments
This is a great infographic! I think I like the snowball method a little better than the latter method, but both can be very effective. That last step is critical if you want to get out of credit card debt!
Thanks for sharing!
@Grady – I like the snowball as well, but whatever works towards paying off debt is terrific.
I especially like the idea of making a budget. In fact, I think this is the strongest way to find extra money to pay down debt. Great job on this post!
Wow, this inforgraphic is very useful. I had some problems with my Credit cards before but as soon as I learned how to deal with the secret charges on my card, I was able to mitigate those charges and now I am debt free. Thanks for your helpful post, someone will need this for sure.
Great infographic. Some very good steps for those who might have some trouble spending with plastic
@Sean – Sometimes basic steps in images are easier to follow than in words. 😉
@Elaine – That’s a great strategy. For many years I only used a debit card. I only recently switched back to credit cards to earn rewards points and for higher safety issues. But, I pay off the card each month so it works out well.
@Juan – Credit card rewards are terrific, as long as the card gets paid off every month. For those struggling with this concept, an alternative method would work better than the rewards points they earn.