Staying Out of Debt While Using a Credit Card

If you are going to start carrying a credit card in your wallet, you need to keep a few things in mind in order to avoid creating an overwhelming amount of debt that you cannot overcome. When handled responsibly, a credit card offers a great deal of convenience and freedom. When used irresponsibly, on the other hand, a credit card can lead to a devastating spiral toward suffocating debt.

The first thing you should do when you receive your credit card is set a limit on how much you can spend in each billing cycle. Remember, a credit card is exactly that – credit. It does not represent cash in your pocket. Therefore, you should only budget spending on your credit card as much as you can afford to repay at the end of each billing cycle.

If you have a difficult time fighting temptation when it comes to making purchases, you might also want to consider leaving your credit card at home on most shopping trips. Take it with you only when you know you will need it for a specific purpose. It is too easy to become disconnected when making purchases with a credit card and to almost forget that it is real money you are spending. Therefore, leaving the card at home is often the best line of defense.

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The Financial Dominance of the Credit Card Industry
Keeping Your Credit Card Safe
Traveling With Your Credit Card
A Look at Current Bankruptcy Laws
Fixing Mistakes on Your Credit Report
Flying With Credit Card Airline Miles
Get Stylish with Your Credit Card
Keeping Your Credit Report Clear
Modern Day Vending Machines
Using Pre-Paid Credit Cards for College Students
Making Sense of the Prime Rate
Protecting Your Credit Card Account Information
Reasons to Use a Credit Card Instead of Cash
Rising Minimum Payments: Friend or Foe?
Staying Out of Debt While Using a Credit Card
Pay Your Way Out of Debt with Your Tax Refund
Tips for Shopping Online With a Credit Card
Understanding Airline Miles Credit Cards
Understanding Cash Back Credit Cards
Understanding Prepaid Credit Cards
Understanding Rewards Credit Cards
Understanding Student Credit Cards
What to Look for in a Credit Card
What to Watch Out for in Pre-Paid Credit Cards