Top 5 easiest ways to avoid credit card debt
Credit cards are simple to use but complex to understand. For this reason, credit card debt is referred to as revolving debt. No matter how high your credit limit is, it's generally recommended that you don't charge more than you can afford to return at the end of each month. Here are five ways to avoid becoming trapped in credit card debt. 1. Understand Your Credit Card Terms and Conditions- The fees and interest charges that you may pay as a cardholder are spelled out in the terms and conditions of your credit card. This document contains the annual percentage rate (APR) for purchases, debt transfers, cash advances, and penalty APR for the credit card. It also specifies the length of the grace period and the minimal interest rate if you have a balance. The yearly charge, as well as costs for balance transfers, cash advances, overseas transactions, late payments, and returned payments, will all be included. 2. Don't Spend Money You Can't Afford- People frequently purch...