Credit Card Debt Elimination Programs You Should Avoid

Not all credit card debt elimination programs are created equal. In fact, there are some common debt reduction solutions that should be avoided all-together. There are millions of us with excessive credit card debt and we’re looking for that one “magic” debt reduction solution that will solve all our problems. And now credit card companies are trying to be our allies by offering credit card debt elimination programs themselves. You should be careful though; most of these solutions don’t work and can leave you in a worse position than when you started!

Don’t Be Lured By Low Minimum Payments

Having very low monthly payments may seem like a positive, but in reality it’s the total opposite. When you only pay the minimum, the majority of your monthly payment goes towards the interest versus the principal. These supposed debt elimination programs don’t reduce debt at all. In fact, since you’re paying less principal, you’re not reducing overall debt so you’ll be in debt longer.

Switching Cards Can Make Your Interest Sky Rocket

Other common credit card debt elimination programs encourage you to switch cards so you can take advantage of a lower interest rate. Of course you want a lower rate, but be cautious about using this tactic to reduce personal debt. The lower rates are typically introductory rates and when that honeymoon period is over they are likely to hike them to higher rates than you had to start with! Plus, in order to compensate for lower interest rates, these companies often tack on high over-limit and late fees. Not exactly the debt elimination program you were hoping for.

Consolidation Can Put Your Personal Property At Risk

Consolidation loans are growing in popularity. The idea behind this credit card debt elimination program is to take out a secured loan to pay off all your unsecured credit card debt. There are a couple of problems with this debt reduction option. One, you usually have to use valuable personal property (such as your house or car) as collateral. Two, consolidation loans may lower your monthly payment, but they keep you in debt longer which means you are actually NOT reducing personal debt.

Beat Them at Their Own Game with The Money Merge Account® System

The best credit card debt elimination program is one that shows you how to “bank like a bank” or, in this case, your credit card companies. It’s called the Money Merge Account system and it uses revolutionary banking techniques and sophisticated software to beat credit cards at their own game.

The Money Merge Account system centralizes your income, expenses and debt and runs complex algorithms to analyze every variable. It truly is the best debt elimination program because, from there, it shows you how to use debt reduction techniques that banks have been using for years:

1. Interest Cancellation – The accelerated debt reduction software tells you when to make payments, and in what amounts, so you can pay more on the principal. Doing this reduces overall debt, which cancels future interest charges.
   

2. Interest Accumulation – The Money Merge Account program also prompts you when to move your money to and from your checking and savings accounts so you can maximize the amount of interest you are earning. Letting your money make money so you can use your current income is an essential part of this credit card debt elimination program.

3. Interest Float – You can leverage the available balance on your credit cards to reduce personal debt and as long as you pay off the total amount before interest is assessed, you basically have an APR of 0%. The Money Merge Account software will guide you through this process so you can take advantage of interest float.

Take advantage of the best credit card debt elimination program today. To use the Money Merge Account system you only need a checking account, a savings account and the powerful debt reduction software. You will learn how to beat credit cards at their own game and eliminate debt in as little as 1/3- 1/2 the time!

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