Debt Management: Prioritizing Credit Card Debt
February 24th, 2010Prioritizing credit card debt is useful when you eliminate your most costly debts first. Three important steps in debt management include determining annual percentage rates (APRs), debt consolidation options, and setting up a plan to reduce debt each month.
APR: The Painful Part of Credit Card Debt
Federal law requires the APR for consumer credit accounts to be clearly displayed on billing statements. If you’re paying bills online, you can access itemized monthly statements showing the APR on each account website. APR shows how much you’re paying for the “privilege” of owing money to creditors. Credit