Kashune Smith
Sarah Stephens
English 101
Solutions paper

How to avoid credit card Debt

Credit card debt is a big problem in the United States today. The lending creditors are taking advantage of consumers, which pile up charges on their credit cards, to the point they are unable to pay of f the card at the end of the month. Consumers end up relying on the credit that is provided by the card issuer. It becomes a ‘means to an end’ and the worst kind of debt consumers can accumulate A Good way to cut down on credit card debt is, not to charge things like meals, groceries, or going to the movies. Don’t charge something if it won’t exists when the bill comes. By paying cash for these kinds of things, you will save
Consumers for many years did not know, when paying the minimum balance, additional finance charges are added. It will take longer to pay off the total balance. Consumers can prevent this from happening by not sending in the minimum balance. Pay over the minimum amount that is due. Some consumers may have an outstanding balance on their accounts, with a high interest rate. I would simply call the credit card company and ask if they can lower the credit limit. In most cases some companies would try to tell you they can not lower the credit limit, and or convince you why this would be a bad decision. It has been a known factor for some consumers would have their credit limit decreased, and they would end up exceeding their maximum limit. The credit card companies would add on penalties and their credit rating would drop. In my previous experiences I have learned to keep money at hand. Avoid making unnecessary loans from credit cards. If I do not have the money to pay it back. Make sure the balance is paid in full at the end of the bill cycle date. This is crucial to avoid finance charges. Always pay over the minimum payment is due, to shorten the amount of years you have to pay off the credit card