How to pay off Credit Card Debt Fast | Less than 6 Months

According to my Credit Score, I owe around $12,723, and I plan on paying off in less than 6 months, although I could pay it off in one payment.

And that’s why in this video im going to give you guys my plan to how I owe 12,723, and I pay 0 interest and the different ways to get rid of this debt without paying interest.

Im going to answer these questions.
The fastest way to pay it off?
How to pay no interest?
And if you should just default?

How to pay off credit card debt fast | Less than 6 Months

One Rule: Once you're done, stay out of credit card debt. Use the card with rewards and points and pay them off in full, and that way, you win, and the credit card company doesn’t make 30% by charging you interest.

1. Audit: this how we know how much we owe and to who and at what price.
- List Credit Cards, Interest rate and amount
- ( call in your credit if you don’t know the APR or go to the App)
Example:
Apple rewards Card: 27.49% and I owe $5,014.53 (it's 0% because of promo)
Discover it Card: 16% and I owe $310 (it's 0% because of promo also)
Chase Unlimited Card: 26.49% and I owe $1999.62 ( 0% because of promo)

What to Do and which one to pay Off and How? Avalanche Method saves us Money
Step 1: Organize the Card in order of high APR
Step 2: Pay More money towards that card and the minimum on the others
Step 3: repeat

Tip: I pay 560 on average a week towards my cards; you can start 100 bucks or an extra 60; the key is to step by step lower the balance.

2. How to Avoid Paying Interest
Tip: transfer the balance to another card with a promotional Period
How: its Call a balance transfer
Story:
- I needed cash, so I would take cash advances and do deals with them
- Now once I had to pay interest, I would transfer the balance to a card that gave me 12-21 months to pay it off interest-free
- Why? You have to pay 3% to transfer the balance, but that’s a lot better than 27%
Instructions:
- Get a balance transfer card
- Transfer the balance
- Pay your cards in full before the time runs out

3. Should you Default ( I’ll make an entire video on this later on)
Story: I remember I got my first credit card, and I spent 3k and maxed it out, and then 1-2 months later, I lost my job.
- I thought about, and some people recommended I stop paying but just like you I came to videos and books to find solutions
- In the end, if I would have stopped paying I would have been financially screwed over
- Plus theirs a lot more benefits to solving problems you get yourself into, than defaulting and banks know that and respect that.

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[TommyBryson]

Do you think a balance transfer is a good idea to avoid the interest?
****Balance Transfer Vid***

[allenhe]

The most important tip: Don’t spend the money you don’t have. Available credit ≠ Checking account balance

[traviswilliams]

Pay them cards off so you can put that money to work for you!

[ruh]

love the videos bro, you've helped a lot with my finances.

[Mzhyde]

Thank you for the help! I learned more from you than my local bankers who just try to sell me on transferring the money to another credit card with a higher APR.

[HustleMillennial]

What a knowledge bomb my man! Thank you

[trinabell]

loved it, very helpful. just found your channel. Thanks

[ImagineResults]

❤thank you Tommy this is exactly what I needed for a wealth mindset shift
😊

[jayyewing]

I enjoyed this video. I also subscribed. The ultimate answer is “live below your means”

[shelby]

Except balance transfers only work if you have a really good credit score, and most people with credit card debt don't. Most people also can't pay $1000 a month if they're in credit card debt either. A little out of touch to me.

[murrelgordon]

Thanks Tommy your the best man your so real brother 🙏.

[mdavison]

Good information. Will try it. Appreciate you.

[BronzeArmor]

Tommy, you make it sound so easy, but you fail to address the most important factor which makes your whole video obsolete. 😂

Debt to income ratio is real. You can't pay X amount of money towards a card if you make less than that.

You claim you pay $500 a week at one point in the video. That's $2000 a month. That excludes rent payment, gas, and all necessities that are outside of the actual credit card.

If that is your entire income for the month for some people.... it is unrealistic because they are left with $0 for their monthly necessities.

[mikelarkins]

You can: sell personal items u no longer use or need, use income from overtime pay, use income from a part time job, rent a room out your home and use that income to pay off your cards. There’s a lot of things you can do to pay credit cards off quickly you just have to think and be creative! 👍

[marcellagamble]

Hello
Getting ready, to start this method now.
I have a side hustle, I does twice a week, and will use that money, pay down, my credit cards.
I believe, this will work for me

[EnsAtly-ognf]

continuously helped me like you have. I thank God for your presence in my life. Thanks a lot!!!

[janicejudy]

Thank you for coming into my can't thank stop thanking you for fixing my

[VictoriaStrong]

Great video. Super points to implement. Thank you!

[sophiaeloisea]

Thanks for the video. I’m right on track. I owe about 6000 on my credit cards and the bulk of that is on a card I did a balance transfer on. I pay around 750 a month toward my debts.

[infini.tesimo]

The hardest part about this? Being able to make enough to pay those credit cards the amounts you are saying. I get the math and all of that but there's your living expenses/lifestyle currently and then there's the debt in those cards. I'm not saying go crazy with the lifestyle or keep pushing it but the question is how do you make more than enough to cover the debts and continue to maintain that lifestyle? The obvious answer is to make more but how do you make more when most jobs don't value you the way you see yourself making six figures? And most businesses' start-up costs are not exactly cheap.

Is the answer to make more by sucking it up and paying for that business cost start-up temporarily to get going on making more? Or work multiple jobs? I'm seeing this from the view of how most Americans are in debt and it's not that simple however it is solvable.