If you've racked up a lot of debt on your credit cards, you're not alone. In fact, of the 90 million households in the United States that own at least one credit card, the average debt totals a whopping $10,691, according to CardTrak.com.
Many of these households are only paying the minimum payments on their credit cards too. If that sounds like you, here's some food for thought: If you carry the average credit card debt of $10,691 and only pay the minimum payments each month, it will take you nearly 33 years to pay off your balances completely.*
Clearly, the minimum payment method is not a great way to manage your debt. It's time to start paying down your balances and rid yourself once-and-for-all of that perpetual black cloud. But where do you start? (MORE)
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