Finance: Too many credit cards
I am paying a huge amount each month is only MINIMUM payments and it's never ending!
Over time I have accumulated a number of credit cards and now each needs a substantial payment each month just to stay clean!
I've tried to get an interest-free transfer but that's getting rejected
SO what can/ should I do for the best?
Firstly, credit cards are a very expensive form of medium-long term debt
and paying only the minimum each month WILL NOT reduce the balance any time soon
So pay MORE than the minimum if you are able so that the balance - and the interest - reduces more quickly
See if you can consolodate your credit cards debts into a more friendly (lower interest) longer term loan
AND stop using the credit cards
Take the advice of a debt counsellor - there are many and their services are FREE
They can help you restructure your debt, make a sustainable budget
and more importantly