This article is reprinted by permission from NerdWallet.
It can seem completely counterintuitive, right?
If credit cards are what got you into debt in the first place, why on earth would you go and apply for another one as youre trying to tackle that debt? You could risk making things even worse.
That certainly could happen. But if you have a plan and if you strategically apply for the right kind of new credit card it can actually be one of the best get-out-of-debt tools available to you. In this case, what you want is abalance transfer credit card.
Theyre not as ubiquitous right now as they were just a few years ago, and to qualify for one youll likely need good to excellent credit (FICO scores of 690 and up). But they can give you…
Read the full article at: https://www.marketwatch.com/story/heres-a-strategy-to-help-you-reduce-credit-card-debtif-you-do-it-right-11614965156
