How I did it: Five years ago I was 10,000 dollars in credit card debt. I focused on paying off my smallest balances first. After that it was time to tackle the big boy: Bank of America. That card had a whopping 30% interest rate and I knew it would take forever to pay it off. I decided to sign up for a new credit card that had a one year 0% interest rate and transfer the balance. The only catch was I could not use that card at all the first year or the interest rate would go up. I was able to payoff almost half off the balance by the end of the year. I just finished paying off the rest of the balance a little over a year ago.

Lessons & tips: **Don't do business with Bank of America!**

They kept changing
the due date on my credit card every few months with no warning. They
also charged me for having a checking account with them. After I
transferred my balance I closed my checking account with them and
canceled their credit card. I will NEVER use them again.

**Talk to your kids about debt.**

Student Loans and Credit Card debt can ruin lives.
Think twice about going to college, think twice about taking out a loan, and think twice before swiping that card!

DON'T CO-SIGN FOR ANYBODY.

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Feb 04, 01:28AM PST | 0 comments | 19 cheers