We all dream of being credit free with no outstanding balance owing on our credit cards and no credit card debt.
To be credit free and pay your credit card off sooner, why not consider a balance transfer credit card that offers a lower or zero interest for a certain period of time. By transferring your current balance to a balance transfer credit card you will be able to save on interest and focus on paying down your debt.
If you are committed to paying off your debt in a certain period of time, this could be a great option but ideally to be credit free you need to tighten the reins on your spending and get focussed on paying off your debt in the shortest time possible.
It's important to note that while balance transfers can be a great way to pay off debt for the committed, you need to find out what the interest rates are after the introductory low rate period ends. If you can't pay off your debt in the introductory period you will start incurring interest and you want to be sure its competitive or you'll wind up in even more debt.
If a balance transfer is not looking like the right move for you personally, you could consider using your savings to pay off your existing credit card debt. Although it's hard to part with your savings this is a great way of saving yourself money in high interest fees.
Compare some great Australian credit card balance transfer options using the RateCity credit card comparison tool.