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Managing Credit Card Debt

By Milos Pesic

Credit Card Consolidation Using Snow Ball Method

Personally, I consider credit cards one of the necessary evils for living in the modern world. We all need a credit card. You'd have a hard time making a purchase online without one of those little magic pieces of plastic. Credit cards make life easier - maybe too easy. Paying with a credit card is easy - maybe too easy.

It is very, very easy for credit card debt to get out of hand. It's easy to get into debt way over your head by simply using credit cards for everyday living expenses. The first step in effectively managing credit card debt is to accept the fact that it is DEBT, and you do owe the money. If you don't want to pay interest, fees, and penalties, either don't use the card or pay the balance at the end of every month.

Credit cards, when they are used responsibly, can be good things. They can even save you money if you use them right. They can even make a profit for you! I have one card right now that PAYS ME $25.00 every couple of months to use it and the credit card company has never made one cent in interest, fees, or penalties from me. My secret? I don't have one. I simply pay the card in full BEFORE the due date and accept the reward that they give me for using the card for my convenience. It's a terrific arrangement.

To get into that position though, it takes some serious self-discipline. You have to learn to pay for everyday expenses with cash or personal checks and not with credit cards. In order to reduce credit card debt, you need to pay MORE than the minimum payment. The way to do this is to choose one card (the one with the highest interest rate) and concentrate on paying that card off while making minimum payments on other cards. You can get out from under credit card debt. Go for it!

Milos Pesic is a Debt Management consultant who runs a highly popular and comprehensive Debt Consolidation web site. For more articles and resources on debt management, debt consolidation programs, free debt counseling and much more visit his site at:

=> http://debtpaid.info/

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