Hardcore Thoughts For Those With Heavy Credit Card Debt

Credit card companies have PR firms and organizations designed to make them look like good, caring corporate partners for those in the middle class. Gag me. They feel off of fees and super-high interest rates designed to “skim” off of the middle class. Let’s fight back.

Take all of your credit cards out of your pockets. Put them on your kitchen table. Take your statements and place them right next to the credit cards. Check the interest rates of each card. Split the cards into high-interest rate cards (Red Team) and lower-interest rate cards (Blue Team). Take the high-interest Red Team and stack them in order of their interest rates (highest on top).

Start dialing. Call the first credit card company (the one with the highest interest rate). Tell them that you are in financial trouble and don’t want to have to file for bankruptsy. Tell them you are interested in paying off your credit card debt, but you need help directly from them. Tell them that you need to ask them to eliminate the interest rate until you pay off the card. Tell them you will not use it again until your debt is paid down, but you need their help now to get to that point. Don’t say another word. No matter how much silence there is. Let them do all the talking.

I know what you’re thinking. What if they say no? Repeat again that you don’t want to go bankrupt and you need their help so badly. Then use the word please. Then silence.

If they continue to refuse, ask for a supervisor.


Do the same thing with the next card until you have completed the same requests all the way thru both the Red and Blue Teams.

Don’t think of this as being “mean” to your poor credit card companies. They don’t mind putting you under pressure. Remember our saying: You can’t own credit cards – credit cards OWN you.

Once you have secured elimination (what you ask for) or reduction (what you are likely to get) in interest rates on your credit cards, begin making only the minimum payments on all your credit cards EXCEPT the highest-interest rate Red Team Card. That card should receive extra payment over the minimum each month until it is completely paid-off.

Oh, and the best place for your credit cards? Your home safe, of course. It is a known fact that when you spend with credit, spending feels “free.” But it’s not free. In fact, you are borrowing money from your financial enemies. So, be careful.

Credit card debt is not easy. They make it seems so easy in the beginning. It’s all lifestyle focused. However, once you are in serious credit card debt, you must work hard and long to get out. You can do it. You just have to develop a plan and attack credit cards for what they are: Your financial enemy.

Thank you for reading our blog.

Loyd Ford


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