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Now is the time to get your credit card debt under control

A small increase in the Federal Reserve's interest rates could have a dramatic effect on the American public -- especially those who are carrying consumer credit-card debt. As it stands, WalletHub reveals that United States consumers are holding on to a lot of credit card debt at the moment and the problem is only getting worse -- to the tune of $92 billion worth of extra debt accrued last year.

The 10 credit card commandments: Follow them or fall into debt

There are few rules of the road when using credit cards: Call them the 10 Credit Card Commandments, if you will. When you follow them, you'll stay out of debt. When you break them, you run the risk of your debt situation getting terribly out of control. Here are 10 mistakes you need to avoid in this regard:

Is high credit card debt damaging for your health and happiness?

We all know that high cholesterol and high blood pressure are bad for our health, but what about credit card debt? A recent survey conducted by NerdWallet of 2,000 credit card users showed that having a high amount of credit card debt can present some serious health consequences for Americans.

Could a debt relief loan be the right option for you?

Credit card debt can become overwhelming in no time at all. The first thing you know, you're charging the price of a movie ticket and a bucket of popcorn on your card because you're short on cash in your checking account. The next thing you know, you're underwater in $7,000 worth of debt, and you have no idea when you'll have enough money to ever pay it off.

Stay informed when applying for a credit card

Applying for a new credit card can be a good thing, and it can also be a very bad thing for your debt. The most dangerous debt situations happen when credit card applicants don't fully understand the terms and conditions of the card they are applying for. As such, whenever you receive a credit card offer, you should look closely at the following information before sending in your application:

Are your credit cards costing you over $1,000 annually?

On average, 50 percent of Americans carry monthly credit card balances. Even worse, the average amount of this credit card debt is $15,654. This is putting a significant financial strain on the American economy and on individuals and their households.

Tips for escaping the payday loan debt cycle

Payday loans are a vicious cycle. Many people go to a payday loan center for a quick bit of cash because they can't make ends meet. Then, when their next paycheck goes to paying the loan, and they can't out of this debt cycle, which has been designed specifically to get them hooked.

Have you ever thought what a debt-free life would be like?

Imagine you're paying $600 per month in credit card bills. You're living paycheck to paycheck and struggling to make ends meet. Sometimes, you've got to put a little bit more on your credit card to make it through the month. But what if you didn't have that $600 credit card bill? What if you could make it disappear?

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