Win the Credit Card Game 

No surprise, credit card debt is a huge problem in this country. It's about to become an even bigger problem for those who only pay the monthly minimums because credit card companies are about to DOUBLE the minimum payment percentage from 2% to 4%.  Many of them have already started this. So if you're paying $500 a month in minimum payments you will now be paying $1000 a month. For many people this isn't just a problem, it's a CRISIS.

Now more than ever it's important that you take control of your credit cards and how to manage them.

When I got married my husband had over $30,000 in debt, with over half of that being on credit cards. I had no credit card debt and only one small car payment. I remember the crushing feeling when I realized that I had agreed to take on these debts for things I had no joy in; hamburgers he'd eaten during college, a TON of stereo equipment, clothes he no longer wore... the reality of paying for his college pleasures hit me like a ton of bricks. It was naseating and I cried pretty hard. These sick feelings are experienced by millions when they finally see the horror of their never ending bills and they feel like they're moving backwards.  Now having your minimum payments doubled it probably seems like the end of the world.

There's hope.

If you fall into this catagory you need to get control and get control now. After I got over my stomach ache I sat down and worked out a plan to pay off all those debts. I called it the "credit card game."  It was me against the big credit card companies. I was sick of them getting all our money. If you play this game by following the instructions on this page, you'll be a LONG WAY ahead in your quest to eliminate your credit card debt. The same principals taught in these instructions can also be applied to your other debts.

Credit Card Game Rules

 You must be serious about eliminating your credit card debt. Slipups are allowed, rewards are set at certain levels, but you must stay the course and continue playing the game until the end of the game which is when all the credit cards are paid off. At that point you have won the game.

Game Instructions - Setup

1. Gather all your credit card bills and put them in front of you.
2. On a sheet of paper or on a computer spreasheet, write down the credit card name, current interest rate, balance due and minimum monthly payment.
3. Starting with the card having the highest interest, call the credit card company and ask them what they can do to reduce your interest. If they aren't willing to reduce it or work with you on it, then tell them you'll be transfering the balance to a lower interest card. They don't want to lose your business, they'll probably reduce it. You MUST get it below 7% interest, the lower the better. Shoot for a no interest for 12 months option. Find out what the new minimum payment is.
   1. Tell them you can transfer your balances from other cards if they give you a no interest or very low (1-2%) interest rate on the balance transfer for at least 12 months.
4. Repeat this procedure with EVERY credit card you have.
5. Update your list or spreadsheet with the new interest rate and note if any of them are no interest and for how long.
6. If any cards still have an interest rate higher than 7%, or are significantly higher than the other rate deals you obtained, move those higher rate balances to lower rate cards. Do whatever balance transfers you can in order to get your debt at the lowest possible interest rate for the longest period of time.
7. If necessary apply for a brand new card. You're looking for a card that has a 0% balance transfer offer for a minimum of 12 months, the longer the better. Move any high interest balances to the 0% interest card immediately.
8. Mark your calendar for that date when your 0% offers end.
9. You should now have all your credit card debt at a MUCH lower interest rate. That alone is saving you thousands of dollars.

Go to the next page for full playing instructions

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