Swiping a Lot of Magic Plastic? How to Manage All Your Credit Cards

Swiping a Lot of Magic Plastic? How to Manage All Your Credit Cards
  • Opening Intro -

    Credit cards are accepted almost everywhere from the grocery store to online retailers.

    It may also be possible to use credit cards to pay your fantasy football dues or your electric bill.

-------------------------------------

While you can use this magic plastic to cover a variety of expenses, it is critical that you are able to manage your credit accounts. Here is what you do:

Keep Track of Your Balances

Once a week, you should take a look at your current balances, the interest rates and how much you have to pay at the end of the billing cycle. It is also a good idea to take a look at what you have purchased and how much was spent in a given category. This can help you identify trends in your spending that may make it easier to cut back on how much you use your credit cards.

Consolidate Your Debt If Necessary

Consolidating your balances onto one card can make it easier to keep track of how much you owe. It may also be an easy way to get a lower interest rate on your balance, which means that more of each payment goes toward the principal as opposed to interest. It may also make your payments easier to afford without needing to file for bankruptcy.

Bankruptcy May Offer Temporary Relief

Filing for bankruptcy may help you wipe away most or all of your credit card balances. However, that comes at the cost of a lower credit score and difficulty getting credit in the future. The one benefit to bankruptcy is that it allows you to reorganize or discharge your credit card and other debts. If you do file, make sure that you learn how to manage your spending to ensure that you don’t have to file again.

Cut Up Your Credit Cards

You never want to cancel existing credit accounts as it will have an adverse impact on your credit score. Instead, you want to find a way to not use your cards to accumulate any more debt. The best way to do this is to cut up your credit cards. If you have the card number memorized, have it cancelled and order a new one that has a different number on it.

Credit card debt can overwhelm your entire life if you let it spiral out of control. Therefore, it is important that you don’t spend more than you can afford to repay in a timely manner. It is also a good idea to work with your creditors if you don’t think that you can make a payment on time.

Consumer Tips reference:

maintaining good credit

 
Bestseller No. 1
PIVKey C980 Enterprise PKI Smart Card with Mifare
  • Certificate Based PKI USB Authentication Card
  • Dual Interface (ISO 7816 / 14443) contact/contactless card
  • PIV (NIST FIPS SP 800-73) Compatible, FIPS 140-2, Level 3 Validation of Card Chip and OS.
Bestseller No. 2
PIVKey C910 PKI Smart Card
27 Reviews
PIVKey C910 PKI Smart Card
  • Certificate Based PKI Smart Card
  • Dual Interface (ISO 7816 / 14443) contact/contactless card
  • PIV (NIST FIPS SP 800-73) Compatible
SaleBestseller No. 3
Saicoo Smart Card Reader DOD Military USB Common Access CAC, compatible with Mac OS, Win
2468 Reviews
Saicoo Smart Card Reader DOD Military USB Common Access CAC, compatible with Mac OS, Win
  • DOD Military CAC USB Smart Card Reader for Government ID, National ID, ActivClient, AKO, OWA, DKO, JKO, NKO, BOL, GKO, Marinenet, AF Portal, Pure Edge Viewer, ApproveIt, DCO, DTS, LPS, Disa Enterprise Email etc. CAC Cards
  • Compatible with windows (32/64bit) XP/Vista/ 7/8/10, Mac OS X
  • Sleek Ergonomic Design -Gloss Black Finish. PIV and EMS ready.ISO7816 Class A,B and C.

Last update on 2017-09-24 / Affiliate links / Images from Amazon Product Advertising API

-------------------------------------------------------------------------------------------------------------

end of post idea

-------------------------------------------------------------------------------------------------------------

Helpful article? Leave us a quick comment below.
And please give this article a rating and/or share it within your social networks.

Categories: Credit Cards

Write a Comment

Your e-mail address will not be published.
Required fields are marked*

Time limit is exhausted. Please reload CAPTCHA.