Did you know that credit card companies don't want you to pay off your credit card debt? Why would they? The more credit card debt you have, the more interest you pay to them and interest is their lifeblood. They help us to foster our acceptance of credit card debt as part of our lifestyle by providing us convenience services to easily put off payments.
We have fallen into the credit card trap since the convenience has lulled us to overspend. We always forget our budget when we making payment by using credit card.
Have you compared your monthly income to your monthly credit card limit? Maybe you will find that you are facing a potential financial trouble which will bring you headache.
Therefore don’t bring you go into credit card trap, here are some tips can help you to prevent credit card debt.
- Get the right card for you- choose the lowest interest rate credit card (even as low as 0% interest)
- Don’t heavy rely on credit card- when you can, use cash, no credit!
- Consolidate to Lower Interest- Transfer your high-interest rate debt to a low-rate card.
- Pay on time- must always pay your bill on time, don’t give chance to them charge you interest.
- Have a system!- Always check how much you are spending and make a system to settle all the payment.
- Negotiate with credit card companies- some time if just late 1 or 2 days settle the credit card debt, you can try to negotiate with them, they maybe not charging you interest.
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