5 Ways to Crush Your Credit Card Debt

Whether you hate or love credit cards, they are here to stay. Credit cards are not bad on their own, it is all about how one manages them. Its about self control. They certainly give a life line in some situations and also it is not safe to move around with lots of cash.

Cathy 4:40AM July 05, 2010

It is actually all about personal discipline and control.

Credit Cards are not a bad thing to have. Credit cards in many ways are already a must to carry...when checking in a hotel, booking for flights online, on instances where you ended up in an emergency room without cash amongst many things that credit cards can be useful.

The trick is to pay off your purchases every month - all of it and not only the minimum required amount. This will keep you 'interest free'(or at least interest 'less') and able to defer payment at least until you get your paycheck. If you are not able to pay off every purchase from your credit card...pay at least 50% of your bill, so you will cut down on your total remaining balance. This habit also will keep your purchases in check, and will most likely deter you from spending unnecessarily.

my advise...keep your credit card, but keep it out of sight(put it in where you can't see it whenever you open your wallet.)

Sam 1:17AM July 05, 2010

I disagree with this author on using cash in place of credit cards. Does this author have any idea what is like to be treated like a portable atm machine? Does she lack common sense? Carrying huge amount of cash around is troubling because one can only become a victim of aggressive panhandling. This is why credit card is needed because one doesn't have to be a victim of theft or with homeless people being aggressive enough to demand for cash. Also credit card can be used for on making a large purchase, so its never a good idea to be without a credit card. One needs it especially for emergency. Also, some stores don't allow customers making purchase with a huge amount of cash due to safety concerns. I use cash only when paying for items that cost less like in stores. But there are items that cost more which may require multiple amount of cash being withdrawn and carrying huge cash around makes you become a target for pickpockets and other form of robbery. We live in the life of crime so it is important to make one less vulnerable to theft and assaults.

afton of CA 7:14PM July 04, 2010

Don't even keep one for emergency! An emergency fund is the way to go, a debit card can be used for hotels, car rentals, etc.

Andy of TN 7:48AM July 04, 2010