6 Tips for Paying Down Your Debt

(7 Photos)

Jennifer Barrett on Sep 8, 2009 at 12:33PM

chime in now
  • 2 of 7

6 Tips for Paying Down Your Debt

Getty Images

    Loading slides...

2. Try to Lower Your Interest Rates

If you have credit card debt, look for low-interest balance transfer offers. Just be sure to check the transfer fee. Some banks have begun charging as much as 4 percent of the balance you’re transferring, reports LowCards.com, which tracks the credit card industry. Make sure the amount you would save on interest payments is more than what you would pay to move your debt to another card. Try calling your card company first to request a lower rate. Say you’re considering a transfer offer and ask if it will match the rate. That way, you can save yourself the fee. 

Connect with Us
Follow Our Pins

Yummy recipes, DIY projects, home decor, fashion and more curated by iVillage staffers.

Follow Our Tweets

The very dirty truth about fashion internships... DUN DUN @srslytheshow http://t.co/wfewf

On Instagram

Behind-the-scenes pics from iVillage.

Best of the Web