|
|
|
Our
Featured Debt Relief Book Online:
Credit Card Dos and Don'ts
Stop making new charges
If you have to, have a “plastic surgery party” and cut up all your cards, hide them, or lock
them in a drawer.
Stay flexible
The key to sticking to your debt repayment plan is to stay flexible. If you find that you
set unrealistic spending limits in the beginning, revise your spending plan the next month.
Get a cheaper credit card
Find one or two low-rate cards and cancel all the others. Switching from a high-rate credit card to a
low-rate card can easily save you $200 or more a year.
The below guide will give you a general idea of what you can do to avoid running into problems when
you are using credit cards.
#1. Don't Use Them. 1.5 million Americans filed bankruptcy last year with most of them claiming credit
card debt as their reason.
#2. If you use credit cards, pay them off each month.
Carrying a balance on your credit cards could add up to hundreds of dollars each year in interest and
penalties. This is money that could be used for other purposes.
#3. If you can't pay off your credit card balance each month, pay as much as possible.
Every extra dollar you pay goes directly toward paying off the principle. Introductory interest rates are
strictly bait to get you hooked. After a short period of time the intro rate
increases substantially.
#4. Be careful consolidating your credit card debt. Whether you use equity in your home or find another
credit card to lower your interest rate.
#5 If you pay off a credit card, you are going to receive constant offers, either checks in the
mail or special offers, to use that credit card again. Be sure to cut up the credit card you paid off and
contact the company to cancel.
#6. Don't keep more that two credit cards.
#7. Always mail your credit cards bills at least seven days prior to the due date.
Currently, credit cards companies are allowed to charge a maximum of $29 for late fees if the bill is not
paid on time. With delays in the mail and processing time once the bill reaches the credit card company
offices, you need at least 7 days to be sure it is posted on time.
#8. Don't use credit cards for groceries.
Buying things like groceries and clothes with a credit card, unless you pay the card off each month,
is a no win situation. Buying recurring items like groceries will only tend to increase your credit card debt
each month.
« previous page | index | next page»
Best Debt Help! More info Click Here!
www.DebtReliefBook.com Recommended Site Resources
Credit Card Debt Consolidation - Free Debt Consolidation Quote
Debt doesn't have to control your life. Click here to learn more.
Debt Consolidation Home Loans, click here
Can't Find What You're Looking For?
|
