I’m addicted to plastic card – What can I do?

If you are constantly stretching the limits of your credit cards, and offers higher credit limits or a new card seems too good to the case, it is time for drastic measures. Stop using the cards until every hundred due is paid. Cut them up if you must. Rest assured, they will always give you a new frame when you are in control.

Tot what you need and budget to repay as soon as possible. Remember, you will continue to hit with interest rates until every cent is paid hack.

You can use the marketing efforts of the issuers of the card to your advantage if you are ready to be disciplined. Credit card issuers are constantly promoting their offer through cards such as "the transfer of sums owed on your existing credit cards to our new card now and we'll give you a low interest rate for 12 months, plus a lot of reward points.
Take Suzi. She is about $ 3000 because of his credit cards and payment of interest is about 15 percent. If they take one of these offers, Suzi can reduce its interest rate to less than 10 per cent and "win" 3000 points reward for his efforts. But to really make this good, Suzi should immediately cancel all his cards and resolve old not to use the new card until every penny is paid.

If you are really problems with your credit cards, you may also consider debt consolidation. It is a strategy where you take out a personal loan at a lower interest rate to pay all your bills your credit card. Because the loan is structured to be repaid within a time limit (usually two, three or five years), you are obliged to reduce your debt each month. But again, this only works if you are serious about breaking the habit. There is no point in consolidating debt, if you spend big off your credit cards again.

When you have paid your debts, think carefully about how you will avoid the same problem in the future. One idea is to limit yourself to one credit card with a credit limit that you can manage. Or arrange a direct debit from your bank account each month to ensure that your account is repaid in full. If there is no money to cover the payment, you will be struck with dishonor fees, which is a great encouragement to make sure you have enough money set aside to cover the bill.