Properly every one of us has some sort of credit card debt, but when do we know that its spiralling out of control? Well one way is if youre pay more than 15% of your monthly salary to your credit card bills then start to worry, but a worse way of dealing with this is borrowing cash from one credit card to pay another, this will only put you into more debt.
If a light comes on in your head after reading the start of this article then its time to sit up and take some action, dont think for a minute you are the only one dealing with credit card debt, almost 40% of credit card holders are in this position why! I will tell you minimum payments.
Yep-minimum payments if you only pay the minimum payment on your monthly balance, what once was a small credit card bill will turn into a very costly one youll end up paying back thousands, and will take years to clear.
How can I help myself sort out this problem!
Well if you have more than one credit card and you pay the minimum payment on them all, then this is what to do get the credit card with the highest APR and pay the most to this card, keep paying the minimum payment to the rest of your cards once...
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