The Descent into Credit Card Debt
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When used wisely, credit cards can be the cornerstone of a sound financial strategy. A solid credit history makes you a good credit risk and that in turn allows you to purchase the necessities of life. But credit cards can also be a slippery slope. One misstep and you’ll tumble into the abyss of credit card debt hell, a mounting spiral of missed payments, fees, high APRs, and rate increases that will take years to recover from. Only by remaining vigilant can you hope to avoid this fate. Here’s our guide to what you may experience on the way down.
Here’s Mint’s credit card guide to help you lift yourself out of the abyss.
Don’t let credit card debt consume you. Mint.com can help you find a card that works for you.
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credit card charges 84 days ago
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Gail Cavanaugh 75 days ago
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els ct 45 days ago
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Credit Card Debt Girl 18 days ago
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« Previous 1 2It’s essential to stay on top of your finances, otherwise it is a spiral of debt due to the high interest rates these credit card providers charge.
If more people, including students larn how interest accrues on credit card debt, they would probably not skip payments or charge so many purchases.
Credit card debts are like cancer. Cure is slow and painful. You undergo “chemo”, at the expense of losing sleep and hair.
Wait a minute – there is hope!!!
1st – discuss with your bankers/credit card issuer
2nd – suggest a longer repayment programme or convert into a term loan
3rd – request for a flexible repayment scheme based on your cashflow/income
4th – restrain from using anymore cards i.e pay cash for everything, otherwise, don’t spend when you don’t have the money.
Interesting post. Most days I feel like I’ll never catch up with my huge credit card debt. It’s like the never-ending nightmare. Interest rate is ridiculous.