Break Up With Your Credit Card Company: 5 Clever Ways to Start Getting Out of Debt

Credit card companies love loyal customers - the kind who stay in debt for years and keep racking up interest.

If that sounds like you, it might be time for a clean break.

You don’t need to suffer through minimum payments forever. With the right moves, you can start cutting ties and taking control.

Here are 5 clever ways to break up with your credit card company and finally start getting out of debt:

1. If you own your home, you're sitting on a gold mine.

If you own your home but are low on cash, you might want to look into a HELOC (home equity line of credit). It’s more/less a credit card, but you borrow against your home’s equity.

They usually have lower interest rates and more flexible terms that a typical loan would.

Here’s a calculator you can use to see how much money you could access: link.

2. See if this company will pay off your credit card debt for you.

If you’ve got $10k+ in unsecured debt (think credit cards, medical bills, etc), you could use a debt relief program and potentially reduce it by around 23% (on average).

Here’s how to quickly see if you qualify for debt relief:

• Head to National Debt Relief’s site here

• Answer the questions on the page

• Find out if you qualify

Simple as that. You’ll likely end up paying less than you owed and could be debt free in 24-48 months.

Here’s a link to National Debt Relief.

3. Cut your auto insurance payment by $1,000+/year.

Believe it or not, the average American family still overspends by $1,000 on car insurance.

(Sometimes it’s significantly more: I saved $1,300/year when I switched)

Here’s how to quickly see how much you’re being overcharged (takes maybe a couple of minutes):

• Pull up Insurify – it’s a free site that will compare prices for you

• Answer the questions on the page

• It’ll spit out a bunch of insurance quotes for you

That’s literally it. You’ll likely save yourself a bunch of money.

Here’s a link to Insurify.

4. Stop paying credit card interest payments until nearly 2027.

High-interest credit card payments can be a nightmare. Have you ever wished you could just take a break from them?

You actually might be able to. Many people may not know, but there's a great way to avoid interest payments for over a year or more.

It's called a balance transfer. In simple terms, you move your balance to a new credit card that offers a 0% intro APR for a set period of time, which could help you save on interest.

If you're interested, here are a few great balance transfer cards to look into: link here.

5. Stop paying for subscriptions you don't use (Can save as much as $740/year).

We've all signed up for free trials and forgotten to cancel them. Stop paying for services you aren't using!

Take a minute and get yourself a good cancellation app: I like Rocket Money (link here).

It's an app that will put together a list of your subscriptions so you can pick/choose which ones to cancel.

They also have a premium service that will cancel them for you, if you'd like.

Here's a link (it's free).

6. Stop paying your credit card company.

If you’re stuck with credit card debt, you feel it. The high interest, the endless payments, the sinking feeling that you’re never getting ahead.

And let’s be honest—your credit card company isn’t on your side.  It’s making a fortune off you with interest rates that can hit 36%.

So how do you escape the vicious cycle? Look into getting a personal loan.

How it works: you take out a "personal loan" and use that loan to pay off your high-interest credit cards all in one fell swoop.

Then you're just left with one single payment, and that payment usually has a lower rate than your high-interest CC debt did.

If you're interested, here's a free 3rd party site you can use to see if a personal loan could work for you: Bankrate.com

They let you compare personal loan options from multiple lenders to find the best rates.

The upside? You’ll have just one monthly payment. And because personal loans typically come with lower rates (Bankrate lenders offer options as low as 6.70% APR), you’ll get out of debt sooner. Plus, no credit card bill this month.

You don’t need perfect credit to check your options, and looking won’t hurt your score.

It takes less than 2 minutes to compare your options. No Social Security number required, just a real phone number (but don’t worry—they won’t spam you). Here's a link to their site.

That’s all (for now).

Thanks for reading!