Thursday, August 16, 2007

Be Credit Card Savvy

Being debt free means having no credit cards and paying everything in cash. Chances are you have at least 1 credit card that carries a balance. Most of us have several unnecessary cards that are eating extra money from our pockets. The goal is to manage your debts accordingly.
After my parents filed for bankruptcy several years ago, I knew I didn't want that to happen to me so I looked into credit counseling to learn more about credit card debt and how to use them. I learned which cards would be best for me and which ones you NEVER need to apply for. Another interesting note is that if your credit is pretty good, you can actually call your credit card company and request a lower APR. High interest is what bites us in the butt. offers an array of topics but one of them I found interesting was "The Dirty Dozen Credit Card Traps". It basically talks about the fine print on credit card terms and conditions. Did you know that if you have a balance over so much, and you are late on a payment, that the fee is higher than it would be if the balance were lower? There are many things you can do to protect yourself from these fees. If you need advice when applying for a credit card, I highly suggest you visit Make yourself aware and be responsible with your credit cards.