Reduce credit card debt by $1,000
Shaving $1,000 off your credit card balances may not seem like much if you’ve maxed out a card or two, but it’s a great starting place. Just $1,000 could reduce your interest by anywhere from $150 to $200 per year.
It also might improve your credit score by lowering your credit utilization ratio. That’s the amount of credit you use compared to how much is available. Needless to say, it’s hard to save money when you rack up outrageous late-payment fees. Play it safe. Set up recurring payments.
