$27k in CC debt
Hello,
I am an American that owes $27k in CC debt. I have changed my spending habits and created a tight budget for myself to ensure I don’t dig myself any deeper.
After long talks with AI, it seems my best option is to stop using the credit card for all purchases, pay $1,000 to the CC per month ($500 is just for interest). This will take about 4.5 years to pay off. I don’t have room in my budget to be more aggressive, and I don’t have room for more income as I already work 45-55 hours per week as a restaurant GM.
One suggestion I got was to open a 0% APR credit card with Citi and transfer the balance, however Citi is me a limit of $5,000, which isn’t a large enough relief to be worth the hassle of splitting payments.
Is there any recommendation on what to do from here? Obviously the simple approach is effective, but is there anything else?