50 million Americans have credit card debt averaging $17,000.  While credit cards provide a great deal of convenience and flexibility, credit card companies have developed clever schemes to exploit consumers and maximize fees.  Issuers make billions of dollars from interest payments and other fees, while consumers find it increasingly difficult to get out of debt.  That $17,000 of debt results in $34,000 in payments over 10 years at an interest rate of 19%.  There is nothing illegal about this.  The fees, interest, and required payment policies are spelled out in your cardholder agreement.  To turn the tables on the credit card companies, you must understand their game, and develop an attitude that this is a competition, you against them.  Issuers have studied consumer behavior for decades and have arranged for a favorable regulatory environment as well.  Now, you can fight back with on-line tools at DueMinder.

DueMinder helps you manage loan payments to minimize interest fees.  In doing so, you get yourself out of debt, save money, and beat the credit card companies at their own game.  There are really just a few tricks you need to know to win this game.  These tricks are really not a big secret, so I'll tell you right now what they are.

1. Pay more than the minimum.  Credit card companies only ask you to pay about 2%.  This keeps you paying for a very long time.
2. Reduce interest rates.  Find cards with low interest rates, and take advantage of any low-interest balance transfer offer on an existing card.  Or, just ask the company to reduce your rate if they want to keep your business.  Most will do this with a phone call.
3. Optimize the payments for cards on which you pay balances.  This generally mean that any extra payment you can afford goes to the highest interest card.
4. Never, ever be late on a credit card payment.  These companies charge outrageous late fees, and some card agreements result resetting of your interest rate to over 30%.

DueMinder guides you through a proven strategy that implements these basic concepts.  Financial gurus and planners have been offering this same strategy to paying customers for years.  You make a commitment at a certain monthly dollar amount.  DueMinder tells you the specific amount to pay on each account.  When the first account is paid off, the amount you were paying on it is added to the payment on the account with the next highest interest rate, greatly accelerating its payoff.  Once that account is paid off, which happens quickly with the extra payments, the next highest interest account is addressed, now accelerating payoff even more as the payments for the first 2 accounts are now applied to the third.

Lets see how this strategy helps the average consumer with $17,000 in debt.  First, lets assume a good portion of that debt can be moved to lower interest cards.  In our example, we'll say that $6,000 is moved to an 8% account, $7,000 to an 10% account, leaving $4,000 to continue paying 19% interest.  Lets also commit to an extra $100 per month.  Following the recommended payment schedule from DueMinder results in a payoff in 4 years instead of 10, with a savings of nearly $6,000 dollars!  The graph below, created by DueMinder, shows the rapid payoff of these debts:

DueMinder helps you with the following features:

1. Enter all your credit card account information in one place for a consolidated view of balances, payments, due dates, and payoff dates.
2. Recommends payments for each card on a monthly basis, to pay off high interest cards first.
3. Chart the payoff of each card, showing you when you are debt-free.
4. Sends email alerts to ensure you never, ever pay a late fee again.