All of my adult life, I have been very proud to have credit cards.  I have paid them on time and have had great credit.  Well life goes on and just like our bodies, things start to change.   Next thing you know, you’re late on a credit card payment and the creditor has no mercy.  They don’t care if you just went through a divorce or a job change or an illness!  A dead line is a dead line to most creditors and regardless of how you work it out with them, it still affects your credit score.  As my life changed up and down, I was began making just over the minimum credit card payment to keep my credit score in good standing.  No more.

The message today is:  Don’t keep Money in the bank when you have high-interest credit card debt.  Everyone likes to have cash in the bank, but trust me, Pay your cards off ASAP!   The credit card companies are charging you more than you are making on your money in the bank.   Remember, the creditors are not your friends and they don’t care what it costs you.  The interest on credit cards keeps them in business.   Here are some tips for cleaning up that credit card debt:

First, make a list of all of your credit cards, due dates, balances, and interest rates.  Then, start with your smallest balance and get it payed off.  If you can only pay one card off at a time, pick one and work on it until it’s paid off.  Every paycheck, try to set aside a portion of your income to pay off your debt. It may take a few months, but get it payed off and work on then work on the next card.  Also, if you want your credit score to improve, this will help.  Your balance is supposed to be less than half of your available credit or your credit score goes down.   So, buckle down and get your debt paid off.

When your credit card balance is less than half of your available credit, your credit score will improve.  Please hear me when I suggest…”Get those credit cards paid off!”

Cheers to Debt Free

Jack-in-the-Blox