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Credit Card Debt Archives

What regulations are credit card companies subject to?

Credit cards are seen as a convenience for many consumers, allowing them to make purchases without their own spending money immediately. Using credit cards to pay for purchases can provide a safety net against scams and helps mitigate cash flow issues. Additionally, they can provide protection when prepaid purchases such as flights are canceled.

Hidden fees can contribute to credit card debt

Getting into credit card debt can become a vicious cycle because when you struggle to pay back the debts that you owe, you will be subject to additional fees. If you are attempting to gain control of your debts, you should first try to understand your debt situation as a whole.

Becoming debt-free starts with simple steps

Whenever we are presented with seemingly overwhelming challenges in life, we can be reluctant to take action because the problems seem impossibly huge. We can have a tendency to bury our heads in the sand in these situations and instead of taking action to solve the issue, we might simply ignore it or pretend that it does not exist, leading to the problem becoming much worse.

How to manage your late credit card payments

The new calendar year is a chance for all of us to get a fresh start and do the things that we have been delaying for the past few months. One issue that many of us are guilty of ignoring during the festive season is our finances. Many of us promise ourselves that we will face our unhealthy looking finances in the new year, and meanwhile we shop with abandon.

How credit card debt can be bad for your health

It's common knowledge that nobody wants to rack up credit card debt. But, just how bad is it? Can credit card debt affect your health? Some say it absolutely can affect your health, while others aren't too worried about what the debt will do to them in the long run. Today, we will take a look at the different ways credit card debt can negatively impact your health.

What rules apply to annual credit card percentage rate increases?

The United States Congress passed the Credit Card Accountability Responsibility and Disclosure Act in 2009. This act, also known as the Credit CARD Act, was meant to address abuses committed by credit card companies in their dealings with the public. As such, the act offers credit cardholders and credit card applicants various protections, including protection against abuses related to annual percentage rate (APR) increases.

Should I freeze my credit cards in a block of ice?

If you're reading this blog -- and considering the unthinkable thought of freezing your credit cards in a block of ice -- then you're probably struggling with some debt problems. In fact, many people try and fail to curb the impulse to use their credit cards at the drop of the hat, but the odd strategy of putting your credit cards in a block of ice just might work.

Paying off debt with the snowball method

Imagine a little snowball that you pack tight with your hands. Now imagine putting that snowball on more snow on the ground and gently rolling it around until it gets bigger, and bigger and bigger. Now, push the giant snowball down a hill and watch it continue to pick up more snow until it's a gigantic force to be reckoned with. This is kind of how the snowball debt payoff method works.

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