{"id":2773,"date":"2008-08-02T13:16:04","date_gmt":"2008-08-02T18:16:04","guid":{"rendered":"http:\/\/magic1host.com\/blog\/2008\/08\/02\/credit-card-debt-poof-its-gone\/"},"modified":"2008-08-02T13:16:04","modified_gmt":"2008-08-02T18:16:04","slug":"credit-card-debt-poof-its-gone","status":"publish","type":"post","link":"https:\/\/magic1host.com\/blog\/?p=2773","title":{"rendered":"Credit Card Debt – Poof It’s Gone"},"content":{"rendered":"
by Tina T Willer<\/div>\n

Credit<\/a> card debt is one of the worse debts we can have as consumers. The interest rates on credit cards is one of the highest of all the debts we carry. Credit card debt is a very big problem many people have, especially in the west. Americans alone have credit card debt in the trillions of dollars. Most of this debt is due to consumers not having patience and buying goods they can not afford when they purchase them.<\/p>\n

There are a many ways to pay off credit card debt and many people achieve this feat. Surely, to be able to pay off your credit card debt is a great achievement in itself for not everyone is able to do it. It takes a lot of discipline, restraint, planning and perseverance to finally pay off all your credit card debt.<\/p>\n

It is not difficult to eliminate credit card debt but it does require a change of habits, especially spending habits, you may have taken years to build. Eliminating debt is step one and keeping it paid down is a big step two, which should last the rest of your life. The key is to create a doable plan and stick to until your credit card debt is completely paid off.<\/p>\n

Some people fail after they have succeeded in paying off credit card debt. These are those people who let themselves loose and go on a spending spree as soon as they pay off credit card debt. Soon, these people again land up with credit card debt and are again trying to pay off that credit card debt.<\/p>\n

First, congratulate yourself for paying off your credit card debt. Not everyone has the discipline to do this. Unfortunately, many people fail too. On the other hand, some people who were successful at paying off their debt, fail to keep this debt down. Over time some people build their credit card debt right back up.<\/p>\n

Most of the rules that you followed when you were trying to pay off credit card debt, will also hold good after you have paid off your credit card debt. Here is a quick synopsis of things that you should take care of even after you pay off credit card debt:<\/p>\n

1)\tIf you don’t need credit cards close all of them, cut them up and only pay cash. Studies show if you pay cash for everything, you spend a lot less overall period.<\/p>\n

2)\tAlways remain within 70% of your credit limit.<\/p>\n

3)\tPay off all your cards by the grace periods.<\/p>\n

4)\tOnly hold as many cards as is absolutely necessary. You should not need any more than three. Hold credit cards which give you a usable benefit, such as points for travel or other necessities.<\/p>\n

These are just very basic rules for eliminating credit card debt; you can add more based on your own experience and knowledge.<\/p>\n

\n
About the Author:<\/div>\n
Tina T Willer, MBA gives seminars, and is the author of Articles<\/a> and E-books on Personal Finance and more. Her financial advice has aided hundreds of people, in becoming more financially fit. Claim your FREE newsletter on Budgeting, Increasing Your Credit Score, Mortgage & Debt Acceleration & more HERE.<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Credit card debt is one of the worse debts we can have as consumers. The interest rates on credit cards is one of the highest of all the debts we carry. Credit card debt is a very big problem many people have, especially in the west. Americans alone have credit card debt in the trillions of dollars. Most of this debt is due to consumers not having patience and buying goods they can not afford when they purchase them.<\/p>\n","protected":false},"author":1100,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[86],"class_list":["post-2773","post","type-post","status-publish","format-standard","hentry","category-management","tag-management"],"_links":{"self":[{"href":"https:\/\/magic1host.com\/blog\/index.php?rest_route=\/wp\/v2\/posts\/2773","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/magic1host.com\/blog\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/magic1host.com\/blog\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/magic1host.com\/blog\/index.php?rest_route=\/wp\/v2\/users\/1100"}],"replies":[{"embeddable":true,"href":"https:\/\/magic1host.com\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=2773"}],"version-history":[{"count":0,"href":"https:\/\/magic1host.com\/blog\/index.php?rest_route=\/wp\/v2\/posts\/2773\/revisions"}],"wp:attachment":[{"href":"https:\/\/magic1host.com\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=2773"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/magic1host.com\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=2773"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/magic1host.com\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=2773"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}