How to get out of credit card debt: Debt consolidation & reduction

Are the balances on your credit cards getting higher each month? It’s time to take action. Learn about debt consolidation, low interest loans and how to get out of credit card debt with a balance transfer credit card. Oprah offers a debt guide for reducing credit card payments and going as she referes to it a "debt diet".

Other useful online articles and debt reduction tools available:

Debt Calculator from CNN Money or Debt-Zapper Calculator from Credit Card Nation
Suze Orman: Managing Debt
Dave Ramsey: Truth About Debt Management
AARP: Do you have too much debt?
Escaping Credit Card Debt

Get a Visa® that will allow you to transfer high interest balances.

The first thing you must do is get a copy of your recent credit score. If your credit rating is still good, you’ll find immediate relief with a Visa® or MasterCard® that offers 0% interest on balance transfers. Cards you might want to consider include the Chase Platinum Visa Card, offering 0% for up to 12 months or the Bank of America Platinum Plus Visa Card that offers 0% on balance transfers up to 6 months and a credit line as high as $25,000. The Blue Cash® Card from American Express is also an option to consider because it carries a 4.9% fixed APR on balances transfers for the life of the balance.

Getting a loan with bad credit is still an option.

There are many articles and resources that can help you learn how to get out of credit card debt. And, there are several opportunities for getting a loan with bad credit. It’s important that you take action now rather than later. If you’ve stopped the bleeding and you need to focus on credit repair, you might want to check a guaranteed approval credit card such as the First Premier Bank Mastercard/® Visa ® , the First Premier Bank Gold Mastercard/® Visa ® , the Centennial Mastercard ® /Visa ® and the Centennial Gold Mastercard ® /Visa ® . There are also many resources available online that can help you get take action. And, particularly in a situation of mounting credit card debt, there’s no time like the present to make your move.

The following credit cards may be able to help build, rebuild, or re-establish your credit if you make ontime payments with all of your creditors and maintain your account balances below the credit limits.

Chase Platinum Visa® Card

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Editor's Rating: 9.0
Consumer Rating: (7 ratings) 9.4

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Intro APR:	0%
Regular APR:	9.99%
Annual Fee:	None

Intro Period:	12 Months
Balance Transfer:	Yes*
Credit Needed:	Good

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0% Intro APR for up to 12 months
The time period for the introductory APR and the balances to which it will apply will be based on our review of your application and credit history
No Annual Fee
FREE Online Account Access
FREE travel services including Auto Rental Collision Damage Waiver and Worldwide Travel Accident Insurance

Bank of America® Platinum Plus® Visa® Card

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Editor's Rating: 8.0
Consumer Rating: (9 ratings) 8.3

Bank of America® Platinum Plus® Visa® Card

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Intro APR:	N/A
Regular APR:	7.49%-17.49%
Annual Fee:	None

Intro Period:	N/A
Balance Transfer:	Yes*
Credit Needed:	Excellent

Don't know your Credit Score? Click here

0% Introductory APR on balance transfers, check cash advances, and direct deposits for your first 12 billing cycles
No annual fee
Credit lines as high as $25,000
Online Banking Service
Total Security Protection®