But it's also important to consider the rising cost of carrying credit card debt.
Overall, credit card debt in the U.S. has reached a staggering record high of $1.03 trillion, according to the Federal Reserve Bank of New York.
The average consumer carries about $6,000 in credit card debt — a 10-year high.
While the free credit reports on annualcreditreport.com will not include your credit score, many credit card companies offer their customers a free look at their credit scores.
Work with your card issuerIf you don't qualify for a 0% card or personal loan, contact your card issuer and ask for a lower credit card rate.
Persons:
Bankrate, Ted Rossman, they're, it's, Matt Schulz, Louis, —, Schultz, Rod Griffin, Oleksandra, Griffin
Organizations:
Federal Reserve Bank of New, Federal Reserve Bank of St
Locations:
U.S, Federal Reserve Bank of New York, annualcreditreport.com