| Stop Credit Card Debt Abuse |
| By Credit Federal |
Published
05/14/2008
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Debt Help
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Free Tips to Spot Credit Card Abuse and to Recover
Do you abuse credit cards for more than the mere convenience they offer? Does your credit card debt cause other financial problems? Below are symptoms to watch out for:
- Having more than two or three credit cards.
- You've maxed out or stay near maxed out.
- Paying only the minimum monthly payment or less.
- Even though you pay only the monthly minimum, you still have trouble paying your other regular bills.
- You take out cash advances on your credit card to pay other bills or expenses.
- You use your card for purchases that you previously never used a card for.
- You are racking up later fees or over limit fees.
- You've taken out one or more debt consolidation loans to pay off credit card balances, but then charge to the credit cards again.
- You're using bank checking account overdraft protection to cover checks you've written that you don't yet have the money for.
If you're abusing credit cards, here's what you should do:
- Stop credit card offers in the mail to reduce temptation. Call 1-888-567-8688 to opt out of receiving offers. Though this may not stop all credit card offers from reaching you by mail, it will limit the volume. The 1-888-567-8688 toll free number is to request credit reporting bureaus to stop selling your name and address to lenders. This request is good for two years. You'll be asked for personal information, including your name, telephone number, and Social Security number. Do not confuse this number with the Do Not Call listing.
- Don't go window shopping, avoid large shopping centers altogether and don't browse online malls. Instead, shop only when you have a specific purchase, get in and get out quickly.
- Cancel mail order and other shopping subscriptions.
- Be alert to all other forms of advertising so you're not tempted to buy.
- Stop carrying your credit cards in your purse or wallet, and leave them at home.
- Face the cold, hard numbers. One way to discourage yourself from charging is to understand how hard you'll have to work to make the money to repay the charge, and the wasteful spending to pay the total interest payments.
- Exercise positive reinforcement as a reward. For each week you don't use your credit card, buy yourself an inexpensive reward.
- Exercise self control. Don't give in to splurge urges. Think twice before pulling out your card, and think twice more before swiping it.
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