San Diego, CA, May 20, 2020 (GLOBE NEWSWIRE) -- Using a credit card to manage your expenses comes with many benefits, ranging from getting royalty points at the retail shops to legal protection and more. However, credit cards carry high-interest rates and the debt can pile up if you delay paying off the card on time. Generally, credit card debt is expensive (as high as 18%) while bank rates have always been lower (as low as 0.5%). Transferring your balance from one card to another one with a 0% balance transfer offer can dramatically reduce your monthly payments and lower interest rates. However, maintaining a minimum payment could mean a longer time to pay off your credit card debt. At a time when the whole world is faced with an unprecedented financial crisis due to COVID-19, individuals holding credit cards are finding it difficult to make their payments on time.
The good news is that Pinnacle Lending has been in the business of helping people clear their balance on credit cards. Here are some of the tips to help you pay off your monthly bills on a standard cred card without paying any interest.
Today, the U.S is in a credit card crisis with consumer credit spending getting out of control. Some of the current unexpected expenses such as medical expenses, loss of a job can wreak havoc on your financial well-being. These kinds of finances can make you feel you are fighting battles, but it doesn't have to be this way. Lending companies such as Pinnacle Lending are offering financial rehabilitation and debt management programs to help people come over their credit card debts.
The average household in America who uses a credit card has an average debt of $8,400 while the average total U.S consumer debt has soared to $13 trillion dollars when considering student loans, mortgage, and auto loans. However, these figures couldn't be worse if people are able to pay off on time. The problem has been that a sizable population is unable to pay off their debts, making it necessary for them to go for help from lending companies.
Unfortunately, the worst part of being in debt is that it can be extremely hard for you to know where to even begin when attempting to pay it off. Luckily, companies like Elite Document Management Services have the experience and know-how to help you figure out how to start paying off your debt.
The worst thing about struggling with debt is that it can make you feel and look confused when you try to pay it off. The fortunate thing is that Pinnacle Lending has the experience of dealing with people such as yourself to help them figure out how to jump out of the hurdles and start paying off the credit debt.
With the current coronavirus crisis putting a financial strain on the economy and to individual income streams, there is little room for people to improve their financial health owing to pay cuts, layoffs, and stoppage of businesses due to lockdowns and self-isolation. While people some people are choosing to struggle on their own to find a way through the financial thicket, opting instead to work with an established lending company that can help manage your credit card debt can give you breathing space and help you come off the hook. At Pinnacle, we believe simplifying access to financial help and helping people plan their finances without having to go through a lot of stress that comes with being in a debt.
Cards are simple, readily available, and are very convenient, so they are easy to use at any time anywhere. For this reason, many credit card providers have used them as a bait to auction their predatory lending offers. This is where the problems are coming from---people end up in huge debts. But without being boxed into continuous debt, you can look for help from Pinnacle Lending for credit card debt management.