The most important thing is to start
, you might feel like credit cards are the problem.of debt instead of making your problems worse.
If you're tired of living with debt and ready to make a big change, a credit card or personal loan could be the solution to your prayers. Both options can help you consolidate debt at a lower interest rate, but each has pros and cons. Before you decide either way, you should also face a painful truth: Neither 0% APR cards nor a personal loan will help you out of debt until you're ready.With balance transfer credit cards, you get the option to break the cycle and pay down debt as fast as humanly possible. Cards that fall into this category, which are also called 0% APR credit cards, offer zero interest for anywhere from nine to 21 months.
Some cards do charge a balance transfer fee of 3% or 5% of your balance, but the fee can be well worth it if you're avoiding interest for months on end. Note that some balance transfer cards waive the a fee if you complete a balance transfer in the first 60 days, so make sure to read the fine print carefully to to get the best deal.As an example, let's say you have $13,048 in credit card debt.
After the 21 months of 0% APR, the variable APR will be 16.24% to 26.24%. Note that you do have to pay an upfront balance transfer fee of $5 or 5% of the amount you're transferring, whichever is greater, each time you make a transfer. The
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