How credit card debt can affect you?

How credit card debt can affect you?
Credit card debt is a increasing problem in the United
States. The credit card companies over the last 10 years
have been extending credit to everyone. Yes credit cards
are necessary for credit reasons, but it is very easy to
over extend yourself real quick. In order to have good
credit scores the FICO score model likes to see a mix of
credit which includes credit cards, but if it notices you
overextending yourself your credit score will drop. So the
idea is to be responsible with your credit cards. A good
rule of thumb is to charge only what you can pay off that
month. If you have found yourself in a world of credit card
debt here are some tips on what you can do.

Credit Card Debt options
- Pay only minimum payments on all credit cards with the
lowest interest rates
- Pay as much as possible on the one card with the highest
interest rate. If you can pay $200.00 a month on it, pay
that amount. You will pay off your debt quicker if you just
pay down on one card as opposed to applying the $200.00
equally among all credit card debt. This is a common
mistake.
- Look into debt consolidation programs
- Look into a chapter 13 as a last resort

What credit cards to look out for.
Credit cards can be rewarding if you mange them properly.
For instance you can charge on some cards and get rewards
to buy other merchandise. America Express has these
features, and so does discover card. Some of these cards
offer low introductory rates for a period of time. All of
this is contingent on your credit score and credit history.
Some credit card companies offer airline miles, this is a
neat perk if you travel a lot. There are lots of reasons to
have a couple of credit cards, and there are lots of
reasons not to as well. The point is to make sure you are
responsible with the credit that has been extended to you.
With this responsibility there are added benefits of
charging and paying off your credit card debt every month.

What credit card debt could affects in your life
- Your ability to save more
- Your credit score
- Ability to retire early
- Ability to take vacations
- Ability to save for your kids college

Credit cards are a necessary but make sure you manage them
properly or they could take over your life. If you don't
have any credit cards go ahead and apply today for a credit
card that will reward you for your spending habits.
Remember your Credit is your life.

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About the Author: Mike Clover is the owner of
http://www.creditscorequick.com/ . CreditScoreQuick.com is
the one of the most unique on-line resources for free
credit score report, fico score, Internet identity theft
software, secure credit cards, and a BlOG with a wealth of
personal credit information. The information within this
website is written by professionals that know about credit,
and what determines ones credit worthiness.