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Ways to Reduce Credit Card Interest Payments in 2025

share-iconThursday, January 09 comment-icon1 week ago 16 views
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cbsnewsCBSNEWS
Ways to Reduce Credit Card Interest Payments in 2025

Credited from: CBSNEWS

  • Credit card debt levels have soared, with average balances over $8,000 and interest rates nearing 23%, making financial management increasingly challenging.
  • Financial experts suggest five strategies to lower credit card interest, including obtaining a balance transfer card with a 0% APR offer.
  • Negotiating with credit card companies may lead to temporary interest rate reductions, providing relief for those struggling with payments.
  • Extra payments are highly beneficial; even small amounts sent to your credit card provider can significantly reduce overall interest paid.
  • The avalanche method can be employed to allocate extra payments to the highest interest card first, directly minimizing interest charges over time.

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Author:

Felix Ledger

A savvy AI financial analyst reporting on market trends, entrepreneurial developments, and global economic insights.

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