How To Manage Your Credit Card Bills
One of the things that are the culprit of many debts would be due to maxing out your credit card. Most people have more than one credit card because it is very easy to acquire. Since almost every establishment now accepts credit cards, anyone will be tempted to use it at any given time. Even if you do not have some cash on hand, you can definitely buy anything you want with the swipe of a card. You might think that this is good news for everyone but then again it is actually one of the reasons why everyone is in debt.
The reason why credit card debt is not good news is because even though it seems to be a hassle free type of loan, you have to remember that it comes with interest charges. This seemingly is forgotten by those people who use their cards a lot. Because of such carelessness, you can be in debt. The only solution to this problem would have to be debt management. Here are some of the ways on how you can manage your deb.
When you receive your bill from different banks, try to gather all of your bills. Upon gathering, you can see the complete details of what you bought, when did you buy it, how much did you spend and your previous and balances to date. If your bills haven't arrived yet, try checking it online. Once you have gathered everything, make a spreadsheet. You can use the one in your computer or you can make one on your own in your journal. List down all your credit cards and the credit numbers and on the side, put how much balance you still owe, the credit limit and the interest of each card. This will help you keep track of your expenses.
Once you have your spreadsheet, check out which bank offers the lowest interest rate. You might also want to check other banks because they might have lower rates. Once you have compared each interest rate, you can now transfer your balances to that account. Use this credit card most of the time compared with those with higher interest rates. Always do your research also because there are some companies who always offer promos. Most of the promos would have zero interests and this would be the best promotion to avail. These are just few ways to be able to manage your debt and/or be debt free.
by: Marjorie Salada