Are_You_Worried_About_Credit_Card_Debt

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					Title:
Are You Worried About Credit Card Debt

Word Count:
434

Summary:
Properly every one of us has some sort of credit card debt, but when do
we know that it’s spiralling out of control? Well one way is if you’re
pay more than 15% of your monthly salary to your credit card bills then
start to worry


Keywords:
credit, debt, transfer, balance, APR, minimum, interest, card, bank,
variable


Article Body:
Properly every one of us has some sort of credit card debt, but when do
we know that it’s spiralling out of control? Well one way is if you’re
pay more than 15% of your monthly salary to your credit card bills then
start to worry, but a worse way of dealing with this is borrowing cash
from one credit card to pay another, this will only put you into more
debt.
If a light comes on in your head after reading the start of this article
then it’s time to sit up and take some action, don’t think for a minute
you are the only one dealing with credit card debt, almost 40% of credit
card holders are in this position why! I will tell you minimum payments.

Yep-minimum payments if you only pay the minimum payment on your monthly
balance, what once was a small credit card bill will turn into a very
costly one you’ll end up paying back thousands, and will take years to
clear.

<b>How can I help myself sort out this problem!</b>

Well if you have more than one credit card and you pay the minimum
payment on them all, then this is what to do get the credit card with the
highest APR and pay the most to this card, keep paying the minimum
payment to the rest of your cards once the credit card with the highest
APR is cleared go on to the next highest APR and so on until all the
credit cards are paid off.

Another way to help is balance transfer deals try switching your card
with one that has this on offer, they also offer 0% interest free period
for 6-9 months great way to save some money.

People with only one credit card try not to use your card if that’s not
possible monitor what you spend you’ll be amazed at the silly things you
put on your credit card, including groceries, petrol, and night’s-out
you’ll be amazed at how much interest is added on. People tend to forget
about money I agree that credit cards are handy but they don’t have to be
used all the time, I guarantee if you monitor what you spend for a few
months you will see the difference.

I know these things sound easy but it’s amazing how many people just use
their plastic friend to pay for everything, and really when you sit down
and think it really is just common sense, hopefully following these
simple steps will get you back on track.

				
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posted:2/17/2010
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Description: My Articles about Credit cards and about their security.