Credit card debt can make anyone anxious. Whether you are managing a small or large amount of debt, regaining control of your spending and getting debt paid off is essential to maintaining a good credit score. This can be a challenging task, but there are many online supports that can help. There are even mobile apps available that guide you through consolidating your data in one place and managing credit card debt.
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1. Debt Manager
This app uses a snowball strategy to manage finances, creating a plan to pay off debts from the smallest to the largest, and helps you track and plan your monthly payments. It also creates graphs to organize and simplify your debt information. It shows the number of payments made against your credit card, how much debt is remaining, and how soon you can pay off your debts.
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2. Digit
More than a traditional debt management app, Digit is a debt management tool. Paying off debts requires money, so Digit helps you to automatically save a portion of your earnings. This saved money can then be used to pay off bills and debts. Note that this app has a $5 download cost.
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3. Mint
If you’re a person who likes to see the details, this app is perfect for you. The Mint app offers both broad and detailed views of your credit card spending and overall finances. You can easily create a monthly budget based on your income, track your spending, and get alerts for your bill payments. It’s a user-friendly app that makes managing credit card debt easy.
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4. Tally
The best way to manage your debts is to consolidate them, which Tally does for you. Tally works by consolidating your credit card debt and prioritizing payments as per APR. It offers debtors a credit line that automatically makes monthly payments for your card. It’s free of cost, and you can easily download it on your mobile device. However, it is important to note that there are eligibility requirements to receive Tally’s credit line offer.
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5. Debt Payoff Planner
This is another app that utilizes the snowball method for managing debts. It gets rid of smaller debts first and then attacks the bigger ones. You can also use this app to create your own strategies for payments. The basic version of this app is available on all platforms. To unlock the full options of the Debt Payoff Planner app, you can upgrade to the Pro version.
The speed at which you can pay off your debt depends on how you manage it. Some people prefer to move from the smaller debts to the larger ones, while others prefer the other way around. Luckily, with the variety of apps available, you can choose based on your needs and preferred approach.
