| Free Tips to Avoid Credit Card Charges |
| By Credit Federal |
Published
06/15/2009
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Debt Help
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Free Tips How To Avoid Credit Card Charges And Debt Relief Options
Review our free tips on how to avoid credit card charges, and consider debt relief options if you have big balances you can't repay.
- Never use credit cards for everyday expenses. Determine beforehand your own set of rules and bounderies for using credit cards and stick to them.
- Put your credit card in the shredder and cut it into ribbons. Another option is to use scissors and make sure to cut the account number. But don't close the account, because doing so can actually lower your credit score. Review our advice about closing credit card accounts. Only as a last resort should you close credit card accounts if you can't avoid using them. If you do decide to cancel an account, get a copy sample letter to terminate a credit card.
- Don't take any credit cards when you go shopping. If you spend money, you would need to use cash or would have to go back home for the credit card. This can restrain impulsive spending.
- Lock credit cards away so that they are not readily available for spending. Consider using a small file cabinet or safe.
- Write down the amounts that you owe and take a hard look at how much you are spending to charge. If a $1,000 balance is owed at 14%, it can take about 4 1/2 years to pay off (if paying only the minimum due of about $25). The interest paid would be $347.55 when the balance is finally paid off. To see how long it will take to payoff your current balance, use our free credit card payment calculator. If you want to see how much interest you'll pay, use our free credit card interest calculator.
- Use "Self Discipline" like you do to get yourself to work on time or to keep appointments. Just say "No" to constantly charging on credit cards.
- Reward yourself every week when you do not use credit cards. Rewards should be inexpensive, something you don't do daily, and not add to your budget problems. Use cheap incentives like dining out, movies, a fun activity, etc.
- Already too deep in credit card debt? If you can't repay credit card bills, consider counseling, debt management, an unsecured debt consolidationnegotiate debt settlements. loan (for homeowners) or perhaps
Here are other free tips and advice to assist you:
- Joint credit card debt - Which spouse pays the bills (loans and credit cards) after divorce.
- Payoff balance - Tips to payoff balance of credit card debt and how to avoid the debt trap.
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