It has to be said that the majority of people who get into credit card debt have probably been guilty of irresponsible, indisciplined use of the credit card or have not made the payments as they are required to do so.. Here we will look at a common-sense approach to paying off your credit card debt.



For those of us who enjoy a reasonable to good credit rating, it is so easy these days to make an instant online credit card application and suddenly have money to spend! But it is wise to regard a credit card simply as a facility that is convenient and easy to use and will save you needing to carry large amounts of cash around in your pocket. A credit card should never be used to bolster ones financial image, purchasing items that you could not afford if you didnt have the card facility. Your instant online credit card application should be made as part of your financial management not as a long term loan.

However, finding yourself in a financial mess through over-use of your credit card is not the end of the world, and often the situation can be corrected with a little discipline and self commitment. Making that instant online credit card application does not need to be an incident you regret. There are a many ways to pay off or reduce your credit card debt and I don't mean by transferring the debt to another card. That action may relieve your current financial stress, but it does not make your overall debt any less. Therefore your payments will still need to be found when the monthly statement arrives. Here is a simple way to clear your credit card debt and at the same time protect your credit rating.

1/. Put your card away safely and do not use it to either pay bills or make any purchases. This is where the discipline comes in! It will without doubt be tempting for you to continue using the card, but if you are to get your credit card account under control it is important that you enter a period of time when you do not use it for any transactions at all.

2/. Determine a period of time that you will take to pay off your credit card balance. Say for example over six months, then divide your balance by five allowing for your last payment to cover the interest accrued while you pay off the debt. Now all you need to do is make those six payment and you will be without credit card debt once again.

3/. Put your credit card debt at the top of your priority list for payment. Remember that the interest you are paying on your card is at a much higher rate than any other bills you may need to make, so make sure you make your credit card payment before you indulge yourself with new clothes, shoes or other items you can manage without.

4/. Once you have reduced your credit card debt down to zero again, then, and only then, can you begin to use your credit card. But this time, remember your self inflicted suffering while bringing your balance down to zero, use your cards wisely and make sure you do not get yourself into the same financial mess again.

It is never enough to simply pay off your credit card debt and be proud of your achievement. Ok you've done well so far, but you need to see the whole excercise through. It is equally important for you to maintain a debt-free status even after you have paid off your credit card debt. Only then will you be able to enjoy a stress-free life as far as your credit card is concerned.

Learn your lessons well and do not allow yourself to build an excessive credit card debt in the future. Remember the simple rules that you followed when you were paying off your credit card debt. Do not overspend. Keep within 70% of your credit limit and make your credit card bill payments on time and in full. Never hold more than 2 credit card accounts (two are enough for anyone).

The pressures created by credit card debt can be enormous. It can have an adverse effect not only on your health, but your relationships and your creditworthiness too, and you owe it to yourself to treat all threeof these with total respect. Try to simply use your card only for items you know you can afford to pay for when your card bill comes in at the end of each month. This way your credit card facility will often cost you zero. Paying the minimum payment on a credit card is fraught with danger and will surely cost you dearly in the long run.

So just stick to these very basic guidelines and you will enjoy the facility that your credit card offers you.

Trevor Taylor