Dr Salam Fayad`s Blog Site

Credit Stacking is a Lifesaver

When my husband and I were trying so hard to get out of debt a few years ago, everything looked bleak. With credit card debt, student loans and other debts outstanding, it was pretty overwhelming to look at. But with the help of credit stacking, we not only paid off the debt within just a few years, but saved a ton of money in interest charges at the same time.

Credit stacking is really simple to do – you don’t need a special financial expert to show you how to do it. Just pay off the card or the debt with the highest interest rate first, while paying minimum balances on the other debts. Apply as much money as you can to the principal to pay off that debt first. Once that debt is paid off, then apply the same payments to the debt with the next highest interest rate. You’ll be out of debt in no time.