With the average Australian household credit card debt rising to almost $10,000, credit card debt consolidation is big business today. The popularity of credit card debt consolidation is evident by the numerous methods as well as the large number of firms providing credit card debt consolidation services. However, all credit card debt consolidation methods work differently, and depending upon your own financial situation and the amount of your debt, you should choose the credit card debt consolidation method that works optimally for you.

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There are so many different credit cards out there to choose from! Picking the right one for your spending habits can be a difficult decision. Here, we’ll try to help you sort through the types, and to make a wise choice.

No annual fee vs annual fee:

*Some credit card companies charge an annual fee just to have the card. Some will waive the fee just for charging a certain amount during the year on it. Many cards that have an annual fee are for individuals with less than stellar credit, although there are others such as rewards cards, and some specialty cards that also charge a fee. If the card offfers a low enough interest rate, it may be worth your while to pay the fee.

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The most important lesson I learned about getting out of debt is that you’ll NEVER get out of debt playing by the rules of your creditors. No matter what they say, they really don’t want you to get out of debt.

After all, the longer it takes you to pay off your debt, the more money they’ll make.

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