Tag Archive | “credit card debt management tips”

How to Handle Your Credit Card Debt

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Handling credit card debt is of  prime importance. If we don’t pay  enough attention, we can accumulate a huge amount of credit card debt very quickly. It is very easy to get into credit card debt but it is very hard to get out of debt. In order to avoid such a thing happening to you, please follow these tips which are designed to keep credit card debt under control.

Credit Card Debt Management Tips

The first step to reduce credit card debt is to stop using your credit cards. Take them out of your wallet and leave them home in a drawer or safe place. Create a budget based on your income and try to stick to it.  Credit Cards should only be used in a actual emergency.

It is wise to make more than the minimum payment on your card.  The minimum payment usually is a trap designed only covers the interest accrued that month so it may be that none of the payment is actually going toward your principal.


If at all possible, transfer your balance to a lower interest rate card.  Many card companies now offer low or even zero percent interest on transferred balances for a specific period of time.  Before you do this, however, make sure you know what the interest rate will go up to after the grace period is over.

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