“An average American has 8 credit cards, with an average debt of $9,400! Not paying credit cards debts on time is a risky affair. As we all know that banks and financial authorities providing credit cards to you are very strict regarding their repayments. The penalties or interest rates on these cards are very high.
there are certain tips which could help you out:
1. Control your credit card spending. Always keep your income in mind while spending. 2. Watch your balance. Instead of looking at your credit card limit, look at your monthly earnings. Always make sure your credit card balance doesn’t grow beyond what you can afford for the month.
3. Check your credit card statements regularly. Perhaps keep all your purchase receipts. Costly errors can be fixed quickly if you have the receipts.
4. You can call to your credit company and negotiate to lower interest rate. Then transfer your credit card balance to a card with lower interest. “
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Things you should know about credit card debt
2 years ago
