As your credit card debt grows, your credit history can get worse and chances of you qualifying for traditional loans and credit cards become less. And even if you do qualify for a loan or credit card, it will have a ridicules interest rate with all sort of hidden fees which may further hurt your credit and keep you in even greater debt. It is called “debt to income” ratio. As your debt grows, the ration of your debt to your income widens to the point where you will be trapped in debt forever and only bankruptcy seems to be an option.
But what are the alternative ways to pay off your credit cards? We suggest payday loans.
The great thing about payday loans especially those from lender direct companies such as Pay1Day.com , is that there is no credit check. Your job and your income is your credit. By taking payday loans and paying them on time, you establish a trust with your payday loan lender, and can take frequent loans to pay off your credit cards. These loans help you pay more than just minimum payments to your credit card, hence you can pay them off faster. And as your debt reduces, your credit score gets better and better. True payday loans may have high fees at times, but that’s a fair price to pay to get rid of never ending credit card debts and improve your credit.