Credit card debt is perhaps the largest reason why so many of us go into debt every day. We have begun to use our credit for everything. The high prices that accompany using our checking debit cards have caused most of us to start using our credit cards instead. The downside to this is that the interest rates alone can force the average person or family to eventually have to rely on bankruptcy. However bad this sounds, there are ways that you can avoid the credit card debt trap so that you can exercise better debt management.
For starters, you can keep your credit cards to a limited number. Why would you feel the need to have more than one credit card? Most of the people who have mounting credit card debts are having this problem because they have too many cards in the first place. If you want to have a card that you can use everywhere, try just having a Visa, MasterCard, or American express card which are all used everywhere.
You can also avoid making any purchases with your credit during peak buying seasons such as Christmas. Credit card companies charge you more interest during these peak seasons because they know that everyone is buying more items with their credit cards. Most of these companies will not make a point to tell you this, but they make a mint off of us at these times.
Another good step is to limit what you use you credit cards for. There is no real reason why you should be using your credit 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 we can all learn to avoid the many pitfalls that we all get used to falling into.
Finally if we find that we simply cannot control our credit card spending then we may have to opt for the most difficult step of all, putting our 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 we just might have to stop digging.
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