Credit Card Debt

Credit Card Debt Afflicts And Addicts You

Information and tips for avoiding credit card debt

When trying to sift through the wealth of information and resources on credit card debt, it is important to distinguish the good from the bad. More accurately, the monumentally important from the negligible. Here at the Debt Consolidation Station, the train to financial recovery is about to leave, so buy your tickets now. And here's what you need to know to get that ticket!

• The total amount of credit card debt in America is approximately $450,000,000,000. For those who have never seen so many zeros, that's 450 billion.
• The average Annual Percentage Rate (APR) on credit cards is 18.3%, meaning that any time you fail to pay in full, you are subjected to extremely high interest.
• Credit card debt is easy to fall victim to when you maintain an excess of cards. You forget to make some of the payments, or don't realize that some of your plastic carries hidden charges. Limit yourself to the amount of cards you actually need.
• Sit down and create a monthly budget for yourself to decide what you can and cannot afford. This helps stop credit card debt before it starts.
• If you owe money to a variety of institutions, concentrate on paying off the credit card debt that carries the highest interest rates. This will save you money in the long run.
• Debt consolidation can oust your credit card debt by rolling your monthly payments into one, and reducing your total debt amount by up to 57%.
• Getting a job with a company card is the ideal solution. This way you can keep on spending and bill it to your employer's tab. They'll just write it off as a business expense anyway, and they have the deep pockets to cough up the cash anyhow**.

Think about it. Stop credit card debt now. You owe it to yourself.

** - Obtaining a job with a bottomless expense account is not easy, and abusing it can still get you fired.

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