It can become easy to become dependent on using credit cards for much wanted items and everyday expenses. However, if your credit card debt is on the rise, it may be time to
stop the bad habit of using credit cards before high monthly credit card payments takes control of your life.
The first step that should be taken to stop this bad habit is to close certain credit card accounts. It is recommended to keep two open credit card accounts to prevent negatively impacting your credit score. Close the credit cards with the highest interest rates and keep the two with the lowest.
The next step is to leave the credit cards you have left at home in a secure spot. This will help you from making impulse purchases. Use your credit cards for only emergencies.
Third, concentrate on paying off the credit card accounts that you have closed. Instead of making just the minimum amount due each month, try to pay a additional amount, even if it is just a little extra.
Finally, discard credit card offers received in the mail. Shred or tear up these offers to prevent them from being used fraudulently by anyone else. However, if one of these offers comes with a lower interest rate then one of your other credit card accounts, use it to make a balance transfer from one card to the new one. This will save you on interest charges, but make sure you close one other credit card account to keep your maximum of credit card accounts open at two.
Using cash instead of plastic will help you stay away from getting overwhelmed in credit card debt. If you want something out of a impulse, don't charge it and save for the much wanted item. If you don't you may find yourself in a difficult financial situation and bad credit in the future.