Once again wifey’s credit card is almost maximize. It stayed like that for almost two months already. Honestly, it happened for the second time because we miscalculated our finances when we move in here. We had lots of things we need to buy and the money we had isn’t sufficient to purchase everything. Using her credit card isn’t part of the plan, but we end up resorting to it just to complete at least 90 percent of the things in our lists.
Our decision is actually a bad idea. I never thought we will end up this way. We did not see the problem until we sum up all our credit card balances and realize that we already accumulated a substantial amount of debt. Honestly, it places a lot of stress in us.
Now we have a huge debt in her credit card company. Paying everything is close to impossible. There is no way we can accumulate that sum to get rid of the debt. But, I don’t want to pay too much interest. It will only make the situation worse. There is only one solution I can think of and that is to do balance transfers.
We have to find a new credit card online that offer 0% APR balance transfer. Once approve for sure we will be able to save the most money possible. Wifey’s credit card company charge her 3.5% per month that would be 42% per year. With her credit card balance, for sure 42% would be a hefty sum.
Other than savings, doing 0% balance transfers will reduce the time and expense for us to get out of credit card debt substantially. I’m certain that paying the credit card debt will take us years to complete. But, this is not the case if we do balance transfer. We could be debt free in no time. Hopefully, we will find credit card company that will help us get through this.
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