|
|
|
|
|
|
|
|
Credit Card Debt: One Way To Avoid It
One of the biggest problems people have in these modern times is Credit card debt, and worst is USA. Simply because there have always been so many laws and regulations before you could have a card in the rest of the world, you can't for instance borrow someone elses card and go shopping because you always have to show some ID before they accept cards in Europe.
Credit card debt is an ever growing problem in the U.S. Countless American's are finding themselves in a financial bind because of their over spending habits. Credit cards are a dangerous convenience to those who tend to impulse buy.
Recent statistics in regard to credit card debt are staggering. According to The Motley Fool Credit Center (http://www.fool.com/ccc/secrets/secrets.htm) total U.S. consumer credit debt has reached 1.7 TRILLION dollars. Collectively, these card holders pay over 50 BILLION dollars in finance charges, every year.
It is said that, on any given day, approximately 78% of the nation's population would qualify for some type of credit. More than 1.3 million of these card holders will file for bankruptcy, each calendar year.
Credit card companies are as lenient as they can afford to be when it comes to issuing new credit cards and spend MILLIONS of advertising dollars, each year, singing the praises of their specific offer.
They count on the fact that the majority of card holders will, indeed, possess an impulse buying gene. These companies also hope that card holders who apply for a line of credit, to be used only on an emergency basis, will give in when tempted with appealing merchandise.
If you suddenly find yourself struggling with credit card debt there are things you can do that will help to ease your stress and reduce your balances. These common sense steps will assist you in getting your credit card debt, under control.
1. Stop using the cards - this is the simplest way to start reducing your debt. Yes, you still owe for past charges, but cutting up your cards or putting them away in a secure place, will alleviate the urge to purchase things that you don't really need.
2. Stop new credit card offers - It's always tempting to take advantage of a new credit card offer, especially if it is pre-approved. You can easily obtain the forms needed to remove your name from credit bureau lists, by calling 1-888-5OPTOUT.
3. Always pay more than minimum - Credit card companies offer low monthly payments for a reason. The longer it takes to pay off a balance the higher their profit margin. In the long run, you'll be surprised at what a savings this will make.
Credit is a wonderful thing if used wisely. Don't become one of the millions of card holders who are struggling with debt. By setting limits and avoiding un-needed purchases you will stay on the road to healthy credit.
The obvious alternative is to use a prepaid card, that way you can never use more money than you have loaded to your card.
© Gunnar Berglund>br? Gunnar Berglund has been working on the Internet for about five years and run http://www.global-prepaid-cards.com since September 2003.
Wind Chimes and more... It's the number one complaint from consumers and it only... Read More Credit Worthiness is an important business and personal asset each... Read More If you have considered credit counseling as an option to... Read More Like me, you've probably been offered a fair old number... Read More Somebody once said, "There is always a way of knowing... Read More Bewildered by the sheer variety of debit cards and credit... Read More "Menis - the author translates as "indignant rage" - It... Read More The three major credit bureaus, Experian, Equifax and Trans Union... Read More The next time you open your credit card statement, take... Read More Not everyone has a positive experience with credit counseling. Potential... Read More Credit Counseling and bankruptcy are both ways to relieve the... Read More When you apply for credit, those lending you the money... Read More Identity thieves take advantage of everyday opportunities to discover your... Read More Most of us want a good credit report to obtain... Read More Sometimes life lands you in a situation that causes your... Read More Maybe some of you are saving it in your trusty... Read More In order to determine a consumer's credit worthiness, creditors and... Read More If you begin foaming at the mouth once a month... Read More If you are one of the millions of people out... Read More A good credit history is critically important for the consumer.... Read More Credit and charge card fraud costs cardholders and issuers hundreds... Read More Credit has become a much-used word, thanks to the various... Read More There are times when you may be turned down for... Read More The credit industry if rife with pitfalls. If you have... Read More This summary of the Fair Credit Reporting Act will explain... Read More
Windchimes
for great gifts!
Shoppers Beware - Tis The Season
Credit Worthiness
Choosing a Credit Counseling Company
Beware the Shopping Mall Monster
Credit Score ? for Scoring the Right Loan
Which Credit Card?
Why Americans Find Predatory Lending Offensive
Keep Your Credit History Clean - Remove A Negative Credit Record From Credit Report
Avoiding Credit Card Traps
Credit Counseling: Is it Really Necessary?
Bankruptcy vs. Credit Counseling: What Should I Do?
The Easy Way To Gain Access To Your Free Online Credit Report
What Should I Do If I?ve Become a Victim of Identity Theft?
Good Credit Is a Necessity for Everyday Living
Credit Cards For People With Bad Credit Scores
Have You Ever Opened a Checking Account?
Credit Reporting: How Does It Work?
It Is In Your Best Interest To Do The Math On Your Credit Card Interest
Rebuild Your Credit the Right Way the First Time
Credit Repair Scam - How To Avoid Being A Statistic?
Useful Tips On Avoiding Credit and Charge Card Fraud
A Cure for an Ailing Credit
Errors on Your Credit Report: What You Should Do
Pitfalls of the Credit Industry
A Summary of the Fair Credit Reporting Act
Your Credit Card May Be Costing More Than You Think!
Do you know what your credit card is truly costing... Read More
10 Step Credit Repair Guide
The process of clearing credit can be laborious and frustrating,... Read More
5 Ways To Prevent Credit Card Late Fees
Paying a credit card late fee is the same as... Read More
All About Balance Transfers
What is a balance transfer?A balance transfer can be explained... Read More
Like It Or Not, You Have A Score To Settle!
Like It Or Not, You Have A Score To Settle!... Read More
How a Credit Card Can Be Your Friend
We have all heard countless stories of people over their... Read More
How To Read Your Credit Report
The Fair and Accurate Credit Transactions Act, signed into law... Read More
How to Avoid Credit Card Late Fees
Everyone hates late fees and being late will cost you... Read More
Make Sure Your Credit Report Is Correct to Improve Your Interest Rates And Lower Insurance Premiums
Did you know that you could make sure to get... Read More
Repair Your Credit - The Right Way!
How to Repair a Bad Credit Rating?The Right Way!If you... Read More
What Does Your Credit Say About You?
A credit report is more than just a snapshot of... Read More
Bailiffs & Council Tax - Knowing What To Do
This article is about bailiffs who may call trying to... Read More
My Credit Card Application Was Rejected! Now What?!?
No doubt, you've probably gotten literally hundreds of credit card... Read More
Beware of Falling Minimum Payments
If you opened a credit card statement recently and were... Read More
Are you paying higher interest on your credit cards than you think?
Many credit card holders sign up for a credit account... Read More
How To Boost Your Credit Score
Years ago your credit score was a big secret, known... Read More
How To Establish Great Credit
Building a good credit history is important. If you have... Read More
Finance - Money, Money
Finance is a big word for some of us. It's... Read More
Why Does Your Credit Card Rate Keep Going Up?
Have your read your credit card contract through completely? Do... Read More
Cutting Credit Card Costs
What are the APRs charged by the credit cards in... Read More
How to Dispute Credit Report Errors
Your credit report--a type of consumer report--contains information about where... Read More
How to Repair a Bad Credit Rating
If you have a bad credit rating, then you might... Read More
Useful Tips When Choosing Credit Cards
Chances are you have received your share of "pre-approved" credit... Read More
Credit Counseling Basics
Credit counseling is an option you might want to consider... Read More
The Hitchhiker?s Guide To Insanity
A new sickness is plaguing the UK called Denial. Denial... Read More
Credit |