How to Avoid 10 Habits of Credit Card Debt:
- Read the fine print. Understand all the terms before opening a new credit card.
- Stay on budget. Using your credit card must figure into your budget, not as an extra.
- Check your accounts. By checking your accounts regularly, you can spot fraud or errors more easily.
- Don’t miss payments. Set up reminder or automatic payments from your bank account.
- Pay off the balance. Avoid interest altogether and build a positive credit history by paying off your balance each month.
- Know your credit usage. Use less than 30% of your available credit but don’t let it sit idly so that you get the most out of your card.
- Avoid cash advances. Cash advances mean lots of extra charges, interest and points to a larger financial issue.
- Think before buying. Avoid impulse shopping and credit card debt by taking time to think through large purchases. Do I really need this? Does it fit in my budget?
- Make a plan. Once you understand the rules, create a plan to best use the credit card. EMERGENCIES ONLY. GAS & GROCERIES. 1 PURCHASE A MONTH
- Stay accountable. Reach out for help to avoid drowning in credit card debt.
For more information on how to better manage credit card debt, call 800-769-3571 ConsumerCredit.com
ACCC – The Credit Counseling Professionals
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