Credit card debt

is the most widespread type of debt nowadays, and most of our customers have numerous

credit card debt

s. No wonder, because we are used to shopping without cash, with credit cards allowing us to spend a lot more than we earn. Eventually, you find yourself in a deep

credit card debt

hole, all cards have high interests and you have no idea how you got there or what to do about it.

Low-interest balance transfer cards are a big lure, but you should know they only last a couple of months. Then again, you will have to switch cards. It’s no big deal, until the recurring activity draws attention and the fact shows up in your credit record. That for sure makes you look like a risk category. Consequently, you may be denied to switch cards again, and you’ll remain with the high interest rate card you were hoping to get rid of. Again, you're stuck in your

credit card debt

.

The solution for this is to prior to switching to the balance-transfer cards, make sure you officially close all your accounts, inform the credit-card company so that they mark your account as “closed at customer’s request”. If not, your credit report will show that your creditor closed your account. Looks bad, doesn’t it? Moreover, it does reflect you as a bad debt risk category, even though you do your best to pay off your

credit card debt

.

Another useful get-out-of-credit-card-debt tip is to stop using credit cards to the limit where you can actually be fine without them. Go shopping with cash only and fight your bad spending habits. Write down you budget so, that you can see the smallest details of your expenditure. You will be surprised at how much goes toward the things you can live without – fitness club, movies, restaurants, a spare pair of trousers or a manicure, gift cards, DVD rentals, discounts in expensive shops, etc. Make a list of unnecessary expenditure and decide to cut it off until you pay out your debts in full amount.

If possible, take an additional freelance job or some extra-hours at work to earn some more during a couple of months, make extra payments towards your

credit card debt

s, and see you can manage debts a lot better if you live within your means.

If you have difficulty working out a budget and a self-repayment plan, you can address our representative for a free counseling session, or the NFCC for a free consultation. Whatever you do – don’t panic and don’t rush to make decisions that can cost you too much.