How To Avoid Credit Card Debt
It is safe to say that there are millions of people asking for answers regarding how to avoid to credit card debt. There is one simple answer to this question, and then there are hundreds of other more complicated answers. The simple answer, of course, is to either not use credit cards or to pay off your debt every month rather than carrying a balance. Though this is the easiest way to avoid credit card debt, very few people seem to live by this rule. For those who are already in over their heads, there are some other ways to avoid or to at least minimize or reduce your debt and to improve your credit rating. The best way to avoid credit card debt is to close all of your accounts until you have completely paid them off. You can close an account without having paid off your balance, and this is a great way to reduce the temptation to use your cards. That way, you can rest assured that your debt is going down every month rather than continuing to accumulate. Once you are free of all of your debt, you can open one credit card account and use it a few times a month, as long as you pay off what you owe at the end of the month. That way, you will establish excellent credit without accruing any debt. You will avoid paying interest on your cards, and you will eventually be able to obtain low interest mortgages or car loans as a reward for your good credit rating. Rather than using your credit cards as a crutch, you can use them to your advantage. Avoiding credit card debt offers you peace of mind and keeps you out of financial dire straights. If you are constantly worried about your credit, you should obtain a copy of your credit report and immediately work toward bettering your rating and paying off your debts.