Credit Basics
Managing Your Credit Card Debts
"Most people spread out purchases over three or four credit cards," says Howard Dvorkin, founder of Consolidated Credit Counseling Services Inc. "By the time they sit down to add it all up, they have no idea what they spent, which is a huge problem."
Responsibilities:
* Borrow only what you can repay. Never borrow more than 15 percent of your yearly net income.
* Read and understand the credit contract. Call the company for further explanation if you have questions.
* Pay debts promptly, and if you cannot meet payments, notify your creditor immediately.
* Never give your card number over the phone unless you initiated the call or are certain of the caller's identity.
* Avoid impulse buying.
* Know your credit limit.
Before You Sign Up:
* Shop around for the best terms.
* Don't rush into signing anything. Once a contract is signed, get a copy and keep for your records.
* Know penalties for missed payments.
* Understand the Annual Percentage Rate (APR). Interest rates vary greatly and the difference can substantially affect your payments.
These tips will help you to use your credit cards in a positive way, but if you haven't always followed these rules, you might want to consider looking at your debt and get control of it now so you can have financial balance in the future.
Consolidating debt into a single low-interest monthly payment has helped many people get back on the winning side of the credit card game and get a fresh start. One company that has helped many people out of debt and guided them into a positive financial future is Consolidated Credit Counseling Services who suggests you start by asking these questions:
* Are you struggling to keep up with minimum payments?
* Are your interest rates rising continuously?
* Have you received late of over the limit fees?
* Do your financial problems . affect other areas of your life?
"I became a Consolidated Credit Counseling Service client about a year ago and my life is now so much simpler. My worries about being able to pay my bills are gone and I know that I will be debt free in two years. In the end, this service will have saved me thousands of dollars and years of extra payments. I once again have peace and contentment in my life," says Mary Mitchell a Consolidated Credit client.
If you answered yes to any of these, debt consolidation could alleviate your financial burden and give you a fresh start to be responsible with credit cards. For more information about credit cards, debt consolidation, and to talk to a certified credit counselor, visit www.ConsolidatedCredit.Org or call (800) 320-9929.
