Make Your Credit Card Bill Payments On Time And In Full

Category: Finance.

The majority of people who get into credit card debt have probably been guilty of irresponsible or indisciplined use of their credit card or have probably not made the payments as they are required to do so. For those of us who enjoy a reasonable to good credit rating, it is so easy these days to make an instant online credit card application and suddenly have money to spend!

Here we will look at a common- sense approach to paying off your credit card debt. But it is wise to regard a credit card simply as a facility that is convenient and easy to use and will save you needing to carry large amounts of cash around in your pocket. Your instant online credit card application should be made as part of your financial management not as a long term loan. A credit card should never be used to bolster ones financial image, purchasing items that you could not afford if you didnt have the card facility. However, finding yourself in a financial mess through over- use of your credit card is not the end of the world, and often the situation can be corrected with a little discipline and self commitment. There are a many ways to pay off or reduce your credit card debt and I don t mean by transferring the debt to another card. Making that instant online credit card application does not need to be an incident you regret.

That action may relieve your current financial stress, but it does not make your overall debt any less. Here is a simple way to clear your credit card debt and at the same time protect your credit rating. 1/ . Therefore your payments will still need to be found when the monthly statement arrives. Put your card away safely and do not use it to either pay bills or make any purchases. It will without doubt be tempting for you to continue using the card, but if you are to get your credit card account under control it is important that you enter a period of time when you do not use it for any transactions at all. 2/ . This is where the discipline comes in! Determine a period of time that you will take to pay off your credit card balance.

Now all you need to do is make those six payment and you will be without credit card debt once again. 3/ . Say for example over six months, then divide your balance by five allowing for your last payment to cover the interest accrued while you pay off the debt. Place your credit card debt at the top of your priority list when budgeting your monthly expenses. Once you have reduced your credit card debt down to zero again, and only then, then, can you begin to use your credit card. The interest you are charged on your card is at a higher rate than any other bills you may need to make, so be sure to make your credit card payment before you treat yourself to new clothes, shoes or other items you can manage without. 4/ . But this time, remember your self inflicted suffering while bringing your balance down to zero, use your cards wisely and make sure you do not get yourself into the same financial mess again.

Ok, you have done well so far, but you need to see the whole financial excercise through. It is never enough to simply pay off your credit card debt and be proud of your achievement. It is equally important for you to maintain a debt- free status even after you have paid off your credit card debt. Learn your lessons well and do not allow yourself to get into excessive credit card debt in the future. Only then will you be able to enjoy a stress- free life as far as your credit card is concerned. Remember the simple rules that you followed when you were trying to pay off credit card debt. Always keep within 70% of your credit limit.

Do not overspend. Make your credit card bill payments on time and in full. The pressures created by credit card debt can be enormous. Don t hold more than 2 credit card accounts( two are enough for anyone) . It can have an adverse effect not only on your health, but your relationships and your creditworthiness too, and you owe it to yourself to treat all threeof these with total respect. This way your credit card facility will often cost you zero. Try to simply use your card only for items you know you can afford to pay for when your card bill comes in at the end of each month.

Paying the minimum payment on a credit card is fraught with danger and will surely cost you dearly in the long run. Trevor Taylor Simply stick to these very basic guidelines and you will enjoy the facility that your credit card offers you.

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