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Posts tagged "Credit Card Debt"

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.

What does psychology say about my credit card debt habit?

Credit cards are valuable and useful when we use them responsibly. They can provide a first line of defense against an emergency financial need. They offer us convenience when making online purchases, and they allow us to skip carrying cash when we're out on the town. Nevertheless, according to one psychologist, credit cards are dangerous psychologically.

Do I have too much credit card debt?

Credit card debt can quickly grow from being a general nuisance into a full-blown financial catastrophe very quickly. However, when you're trying to evaluate how much credit card debt is "too much," you might not have a point of basis for comparison. That's exactly what this article intends to provide.

Would you give up Facebook to erase your credit card debt?

It's hard to believe, but Americans are so fed up with looming credit card debt that many admitted in a recent survey they would give up some of their favorite things for the chance to be debt free. The debt survey conducted by Mr. Cooper showed that 33 percent of Americans admitted that credit card debt caused them to lose sleep, and 25 percent said that credit card debt is interfering with the family relationships.

How to attack your credit card debt with everything you've got

One of the best ways to pay down your credit card debt as quickly as possible is to harness your financial resources, free up financial leaks and start directing all that cash to paying off your credit cards. Although this sounds simple enough, an action plan can help you stay focused on the most important aspects of this process.

2 things to help you navigate your credit card debt

It's easy to find yourself in out-of-control credit-card debt. All it takes is the decision to put a fancy vacation on your card. If you come home, and then find yourself in the throes of a difficult and costly health condition, you may be tempted to charge your medical expenses on your card. Then, you'll really be in trouble.

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