Every time people talks about debt, most of them were acquired through credit card. Avoiding credit card would be tough for some who’s lifestyle are way beyond the normal living. But for some who uses the credit card wisely and take advantage of it, having credit card is good choice.
But if you are one of those who are dealing with credit card debts, it is important to resolve your situation immediately as possible. Here are some warning signs that you might be starting to deal with a credit card debt.
You often pay minimum amount on your cards.
You spend more than what you earn.
You skip payments on your credit card bills or get a cash advance to pay another card.
You have maximized your credit card limit.
Credit card collection agencies are calling and asking you for payments.
Asking about debt consolidation programs
Now, if you are just planning to have a credit card. You might want to follow these tips to avoid credit card debt problems:
Pay the full amount owed every month to avoid the exorbitant interest rates, and also you can benefit from the grace period that enables you to borrow money for free for a few weeks.
Determine how much you can pay on your credit card bill monthly and stick to it.
Do not use your card if not necessary.
Stop impulsive buying which may lead to reckless spending.
Well, if you expect that you cannot pay your credit card bill might as well use your debit card. And always remember that if you use your credit card, you are borrowing money from your future earnings. And it is bad habit to get into.
No comments:
Post a Comment