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How To Stay Out of Credit Card Debt Staying out of Credit Card debt could be one of the hardest things to do. Especially when you have credit card company's giving you outrageous credit limits. . How do I know how much to put on my card every month? This may sound dumb but it is the hardest thing for people to do. The method I always use is that I won't put things on the credit card unless I can pay it off that very month. This is by far the safest way to go, by doing this you will have your credit card always paid off with good credit. Plus you will dodge those ugly finance charges you get.
NEVER pay min. payment Paying minimal payment is one thing you always want to get away from. Yes the payment of $20 sounds a lot better besides the $500 bill. But just by paying $20 on that bill you would be paying an extra estimate of $10 depending on your APR. $10 doesn't' sound like much but you still owe the other $480 then whatever you put on your card the next month. Stay away from the gimmicks There are quite of few gimmicks with Credit Cards that you need to be aware of. Here are the more popular ones. Cash ATM Using your credit card at the ATM is the one of the worse mistakes you can do. You will get hit with a fee for using the ATM machine then you will get hit with a fee from the Credit Card company themselves. To top that off you will then have to pay interest on that. Cash Checks We all get them in the mail, the checks that you can write out to pay bills or other things off and it comes from your credit card. Most of the time the interest on those checks it pretty high and can kill you if you can't pay it off right away. Remember.... You have to be smarter then the credit card company and never give them a lead on you. As soon as you get buried in on a credit card then you are in for a rough few years finical wise.
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