Between the rising price of gas and the increasing costs of food and groceries, many Americans are finding themselves stretched thin. As a result, some are taking on credit card debt to help bridge the gap.
A recent CNBC and SurveyMonkey Quarterly Money Survey found that of the 76% of Americans in debt, over half (52%) spend at least a quarter of their income on paying it off. This financial burden can drag on for months or years, potentially dragging down your credit.
High interest rates – currently averaging around 21% – make credit card debt sticky and hard to get rid of. This means much of your payment often goes toward interest, not your original principal.
If you’re struggling with credit card debt in particular, a 0% APR card…