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Credit card debt, unfortunately is something that many Americans struggle with. When you have good credit, getting a credit card is easy. However, when you spend more than you can afford, it can become a burden until you can pay it off completely.
In quarter four of 2018, America owed a total of $870 billion in credit card debt alone — a 5 percent increase from 2017. When other sources of revolving consumer credit are factored in, Americans owe a total of $1.057 trillion as of March of 2019. The outstanding revolving consumer credit debt is growing at a staggering rate and has surpassed revolving credit owed during the 2008 Great Recession. – Lexington Law
Our family has been able to travel all over the world thanks to our credit card miles and points. Without our credit cards, we wouldn’t have been able to visit Barcelona and Paris because we flew there and back on credit card miles. Without our credit cards, we wouldn’t have been able to spend five nights in Puerto Vallarta because we used our credit card hotel points to pay for our hotel.
We are thankful to be able to have access to credit cards now that have provided us so many perks, however it is important to remember that getting into credit card debt is very easy, and if you aren’t aware of debt solutions, it may take you a while to get out of debt.
I got my first credit card when I was a freshman in college. I knew nothing about how credit cards worked. I was struggling with low paying jobs and barely making ends meet, so I used my credit card to pay for everything.
Before I knew it, my first credit card was maxed out so I went ahead and applied for another one. And just like before, I maxed it out again. By the time I graduated from college with my bachelor’s degree, my credit was terrible. At the time I didn’t know CreditRepair.com and all the debt solutions that they offer.
After I got a good paying job, I got serious about finding a debt solution and making payments to my credit cards, and before I knew it, I had paid all of them off. My credit score greatly improved and I was finally able to apply for travel credit cards with miles and points allowing me to travel more with my family. But first, not without paying thousands of dollars in interest fees which I could have avoided by following these four easy tips below.
Pay Your Balance Every Month
The best way for you to avoid credit debt is to pay off your balance every single month. Only spend what you can afford so that at the end of the month you’ll have the money to pay it off. And when I say pay it off, I don’t mean your minimum payment, I meant the complete balance on the card. If you can’t pay it in full, then you are spending more than you can afford.
Spend Only What You Can Afford To Pay Back
This may sound simple, but it isn’t as simple as you think but it isn’t. Most people spend more than they can afford. All you have to do is swipe your credit card and buy whatever you want to. Before you spend money on anything, including booking a trip somewhere, make sure that you can afford to pay it back first.
Pay Your Credit Card On Time
Missing credit card payment can be the start of credit card issues. Once you miss a payment, late fees will be charged and then the payment will roll over so your next payment will be a lot more. Make sure that you aware of when your payment is due so don’t miss it. When you miss several payments, your credit score can drop. To check your credit score, you can visit CreditRepair.com for a free consultation.
An Emergency Fund Is A Must
Life happens, and so do emergencies. If you have an emergency fund, you won’t have to worry about using your credit card because you can just go into your emergency funds and take out the money you need. Using a credit card for emergencies is okay, but when you don’t have the money to pay it back right away, then that can be a problem.
If your credit isn’t were you want it to be, then check out CreditRepair.com which is one of the top credit report repair services. They have a very helpful team who can answer any questions you have. Their online dashboard tracks your credit score analyses it as to make sure that you stay up to date.
As you can see from my experience, your credit score is not written in stone, however your credit won’t fix itself. So if you’re serious about traveling more, then CreditRepair.com may be able to offer you the debt solutions that you need.