How to Get Rid of Credit Card Debt

5 Ways on How to Get Rid of Credit Card Debt

See how to get rid of credit card debtEach month, when all of those dreaded statements come in for your charges to those plastic cards in your wallet, your card issuer usually lets you know that you don’t need to payoff the balance. “Just pay this minimum payment”, they tell you, and before you know it, you have a high outstanding balance. Now you begin to wonder how to get rid of credit card debt.

Unfortunately, now it’s not so easy. For some individuals, there may have been a good reason why they only paid the minimum payment each month. Problems such as unforeseen medical cost, or the family car passed away, or even loss of a job.

But for many others, it was just poor cash management. They didn’t have View full post…

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Common Money Myths & Debt

Some Common Money Myths and Debt

Don't be fooled by some of the money mythsEach of us has our own pre-conceived ideas as to how money plays a part in our daily lives. Because of those ideas, it’s no wonder money myths are so prevalent. What’s more, this hype perpetuates not only from friends and acquaintances, but financial professionals as well.

Some of these sayings remind me of the saying “old wives tales”, and indeed, they may be. This first one is a good example.

  1. Never payoff your credit card balance in full because it will affect your credit score in a negative way.

Wrong – Keeping an outstanding balance on a credit card will not improve your credit score. View full post…

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Do I Need a Credit Card

Is a Credit Card Something I Need to Have?

Do I really need a credit card?Have you ever wondered if you really need a credit card? I can hear some saying, this guy must be nuts, who can live without at least one credit card?  There are some though, who are highly disciplined and won’t have a credit card in their wallet.

This can be a mistake, however, because with proper use of a credit card, you can build a strong credit score. We’ll give you some tips about credit cards and credit score, and for the very few of you, some advice to consider.

Do I really need to have a credit card?

We all have different wants and needs as well as personal lifestyles, so on to the answer to the above question. There are some who have managed their finances very well for many years and have not used a credit card. They don’t expect their situation to change, and have even saved a tidy sum for possible View full post…

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Hazards of Having A Credit Card – Are You Trapped?

Hazards of Having a Credit Card

Having a credit cardMy grandparents taught me something when I was young; paying for everything with cash keeps you out of debt.  Their philosophy was that it’s too easy to get in over your head and mismanage money if you are using a piece of plastic. They called this debt the hazards of having a credit card.

It is very easy to overuse and misuse a credit card.  Here are the following ways:

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Disposable Credit Cards

Disposable Credit Cards – A Smart Money Choice

Use disposable credit cardsDisposable credit cards are also known as pre-paid cards.  Pre-paid cards do not require good credit to get.  In fact, these credit cards are not even linked to your credit report.  There are multiple cards to choose from; grocery stores, gas stations, pharmacies, Walmart, and Target all carry them.  Pick which one suits your needs, load money and use it wherever they are accepted.

Disposable credit cards are handy when traveling.  I’ve had my credit card number stolen before while traveling so I now go to great lengths to protect myself and my financial information.

These are great options for children or adults that are beginning their journey into learning money management.  While they will not help you build credit, they will not hurt your credit. View full post…

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