The invention of credit card has given the average consumers the ability to do their purchase with incredible convenience. There is no need to carry wads of dollar bills around. On the flip side, it also allows them to spend beyond their financial limit, which means they are able to buy big ticket items or things they normally cannot afford using cash.

With the ease of credit card spending comes the ease of accumulating debt. More and more card owners are carrying a balance on their cards. The average credit card debt per household in USA is about $9,840 in 2007. That means the national debt figure is in the multi-billion range!

If many of them, debt elimination looks like mission impossible. However, debt happens mainly due to poor financial decisions and bad spending habits. By taking responsibility of your debt situation, you can and will eliminate debt.

One way to bring the credit card debt under control is to consolidate them. This means that you gather all your credit card dues and consolidate them into one monthly payment. Why should you do this?

First of all, it is easier to manage one source of debt than trying to deal with multiple sources. You only need to remember one due date and one monthly payment figure per month.

Secondly, this action will reduce the total amount of interest incurred.

Thirdly, you will have a better cash flow, as the monthly payment is usually lower.

With a lower monthly payment, you will not likely to default on your repayment schedule, which means no late fee penalty.

As you continue to do payment on time and on schedule, your debt will reduce and your credit history will gradually improve.

In the long run, you will save more money as you pay less interest. In the event that you need a loan for a house (after full repayment), the good credit history that your build up along the way will qualify you for a lower interest rate.

Credit card debt consolidation isn't a magic wand that can solve all your debt problems. It only help to make your life easier by reducing the interest and improving cash flow. The important thing is to cultivate good spending habit and not to buy things that you cannot afford. The ultimate goal is to eliminate your debt sooner than later. As long as you make a commitment to get out of debt and take action, you can be debt free in a few years time, if not sooner.