Thursday, November 22, 2007

To Avoid the Credit Card Debt Trap

credit card debt
What is the largest reason why so many people go into debt every day? I guess, credit card debt. We use credit cards for everything. Unfortunately, plastics come with fees and interests still. But there are ways to avoid debt trap.
Firstly, you should keep your plastics to a limited number. Most people have problems because they have too many cards. If you want to have a credit card that you can use everywhere, try a MasterCard, American Express, or Visacard which are all used everywhere.
Also avoid making any purchases during peak buying seasons, for example, Christmas. Credit issuers charge you more interest in such periods.
Another step is to limit what you use you plastics for. There are no reasons why you should be using your card to make daily purchases like groceries. If you prefer not carry cash around you can get yourself a debit card which works the same as a credit card, however, it is direct cash purchases. You are not charge often times to use these and you are using cash to make your purchases. Keeping your credit card debts under control is not easy for some people but you can all learn to avoid the many pitfalls that you all get used to falling into.
Finally if you find that you simply cannot control your credit card spending then you may have to opt for the most difficult step of all, putting your credit cards on ice for a while. That will mean a change in lifestyle and spending habits but if the hole from credit card debts is getting too deep then you just might have to stop digging.
Check out some useful links:
Best guaranteed unsecured credit card for those with bad credit
Get a secure credit card with bad credit
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Best credit card companies for people with bad credit
Et credit card to restore my credit
Www.cross country bank credit application

1 comment:

Karen said...

I had some financial problems with my
credit cards
until I limited the amount of them. I had only two important ones and didn't face any problems with paying my bills on time.