Different ways to zap your debt: Which is for you?
American consumer debt has rebounded to prerecession levels, and the category that includes credit cards hit a record $1.02 trillion this summer. Maybe your credit card debt has crept up too, setting your own personal record.
It makes sense to pay particular attention to your credit cards, because their interest rates are typically higher than other types of debt, like student loans or a mortgage. Carrying balances on this more costly debt may derail goals such as building a retirement fund.
If your other types of debt are manageable, but your credit cards feel out of hand, you need to assess your situation first.