CREDIT CARD CRUNCH: Here's the 'best weapon in your arsenal' to fight mounting debt
dropped a single percentage point in 2022 to 35% from the previous year. However, the amount of debt incurred rose 24% averaging $1,549.
The"best weapon in your arsenal against credit card debt is a 0% balance transfer credit card," says LendingTree chief credit analyst Matt Schulz. According to Schulz the best thing to fight debt is to get a new card with 0% APR to pay off old credit. "Maybe the best weapon in your arsenal against credit card debt is a 0% balance transfer credit card," he said.While these cards may have some prerequisites "it's important to know that there are some fees associated with those. There [is] some fine print that you need to know," he continued.
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