5 Signs Your Credit Cards Are Controlling You

Having a CARDS will be almost a good must most of these days. a person need them to help book a good hotel, rent the car, or maybe make deals online.   "Having credit cards is smart if used properly, related to building a good credit score." says Christopher Viale, board chairman of the Association of Independent Consumer Credit Counseling Agencies. Viale also warns that, "The pitfalls of using credit cards, not just for the purpose of building your credit profile, obviously involves the temptation for overspending." Obviously overspending could lead to debt and possible damage to credit scores. Here are five signs that your cards have stopped being a tool to build credit or an asset in accumulating points and rewards but an instrument of debt.

5 Signs Your Credit Cards Are Controlling You

1. you\'re struggling to make ones payment: regardless of whether you are struggling in order to make ones minimum payment on the card it is a warning sign. Make sure you make your current charges at time. Think information on applying funds for you to make transactions whilst you happen to be paying decrease credit debt.
2. people pay with regard to rewards: the rewards that include Credit Card Employ are perks of while using card, but you need to not end up being spending to earn ones rewards. keep in mind your current rewards are generally perks intended for transactions you had been already going to be able to make. no matter whether you\'re overspending to gain an perk, It\'s going to turn out not become much of an perk regardless of whether The item damages ones credit or maybe your budget.
3. you stick using a sub-par product: this can be a red flag you happen to be within over ones head if you cannot qualify with regard to credit card in interest rates along when compared with 18-20%. Solid credit scores entitle customers for you to competitive terms, and so retailer approximately to make sure you might be getting an rate.
4. You have more cards then you need: The more credit you have available the easier it is to overspend. Put a limit on the amount of cards you are going to have. If you have found a card that better suits you and your spending, put the old cards away and don't use them.
5. You use your card as a status symbol: Credit companies have developed luxury cards to get people's attention by using flashy colors or materials. These cards often carry high annual fees and often have high credit limits. The thrill of carrying a luxury card may soon fade if you have a bad interest rate or overspend.

If you find yourself continually robbing Peter to pay Paul, but Peter and Paul still want to be paid, then you probably need to find a way to satisfy both of them and get them off your back. Finding an experienced attorney is important in helping develop a game plan to deal with your credit card debt.