Credit Card Debt in America – The Real National Crisis

Credit card debt in America is now at an all time high. It currently contributes to 20% of the national debt and just continues to grow. We are an instant gratification country and with that come excessive credit card debt and enormous personal debt burden. But what can you do to reverse that trend?

There are things you can do personally that will contribute to a reduction in credit card debt in America:

1. Resist the urge to get ANOTHER card
2. Use your current income to make more money
3. Leverage your credit card to pay down other bills
4. Find tools to help you reduce credit card debt

Resist the Urge To Get ANOTHER Card

The average American has multiple credit cards and the majority carries a balance from month to month. When you add up the total number of citizens, it equals enormous credit card debt in America! Some credit card companies will encourage you to get another card with a lower interest rate to pay off your existing credit card balances. But you should really resist that urge. Often times, the lower interest rates are simply introductory and you end up with much higher rates once you’re locked in. The higher rate will force you to pay more each month and increase your personal debt by thousands.

Use Your Current Income to Make More Money

Another contribution to credit card debt in America is the amount of money the average citizen allocates for payments, which is currently almost ¼ of their income – and that doesn’t include monthly expenses! At the same time, creditors encourage them to pay more each month on the principal amount to lower interest charges. That’s good in theory, but what if you cannot figure out where that extra income is coming from?

Learn to leverage a savings account. 2-3% in interest earned may not sound like much, but it can add up to thousands in the long run. Plus it can help alleviate debt in America because you can put that extra income toward your personal debt.

Leverage Your Credit Card to Pay Down Other Bills

Did you know that the average American has over 13 debt obligations? That includes credit cards, loans, mortgages and more. Learning to leverage your credit cards to pay down other debts can be instrumental in reducing personal debt. This might seem contrary to the overall goal and you may think it contributes to credit card debt in America – especially given the high interest rates. However, if you pay off your balance before interest is assessed, you basically have an APR of 0%. This can be tricky if you don’t know how to work the system, so be careful.

Find Tools to Help Reduce Credit Card Debt

There are tools available to help you reduce personal debt, which will help lower the credit card debt in America. But be careful about using common, advertised debt reduction solutions. Many can actually prolong your debt and even destroy your credit. There is one solution available to you that can help eliminate credit card debt in a fraction of the time. It’s called the Money Merge Account™ Program.

The Money Merge Account program is a debt reduction system that helps you use your CURRENT income to pay off your debts in the quickest time possible. At the heart of the program is accelerated debt reduction software that uses complex algorithms to analyze every variable of all your debts (credit card, mortgage, loans and more). The Money Merge Account system then provides a strategic path to payoff your personal debt.

The Money Merge Account Program Can Reduce Credit Card Debt in America

After the powerful debt reduction software provides your “blueprint”, it will alert you when to make payments, and in what specific amounts, to your credit cards in order to maximize principal payments and cancel future interest. It also helps you take full advantage of interest float so you can leverage the balance on your credit cards to pay down other debts WITHOUT incurring additional interest.

The Money Merge Account software also prompts you when to make strategic transfers to and from your savings account so you can make more money on your current income and use it to reduce your credit card debt.

The only things you need to start eliminating personal debt today is a savings account, a checking account and the Money Merge Account accelerated debt reduction software. Get your complimentary analysis today to immediately see when you can be debt free. Stop contributing to credit card debt in America and start reversing the trend. Get started today!

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