To save some interest, now may be the time to participate in a balance transfer credit card companies offer new customers. Moving a balance from a high interest credit card to a zero or low interest credit card just makes good sense in these tough financial times.
Obviously, you will also want to reduce your credit card balances as soon as possible. The more you owe, the more interest you are paying and it can take years to clear even a small credit card debt if you only pay the monthly minimum. Endeavor to pay your whole balance monthly on those cards you've just received. Begin paying off older credit cards, starting with the one that has the lowest balance. Get it paid off quickly so you can whittle away at other credit card balances and work toward becoming debt free.
Debt is not the regular monthly bills such as lights and water, or the other regular expenses. Debt is the money you've got borrowed and are paying interest on.
