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[H1141]How To Get Credit Cards

by Lee Dobbins, Lee

Credit cards can be a nice convenience but they can also get you into a lot of trouble. If you have charged your cards up to the limit and are now having a hard time paying the bills you are not alone. Statistics show that the average credit card debt for each household in the U.S. is $4,800 per month. Also, there were 1.3 million credit card holders declaring bankruptcy in the year 2003.

There are a couple of things you can do to help yourself get out of debt. The first thing, of course, is to stop using your credit cards! If you can't control your spending, then cut them up or put them away somewhere where they are not easy to get to. Of course, it is a good idea to carry one with you in case of emergency, but if that means you will use it to ruin your credit it may not be worth it!

One step you can take to pay off your credit card debt is to practice what is called debt stacking. You must be very diligent in this, but it is a good alternative for someone who is not eligible for a debt consolidation loan.

With debt stacking, you first create a list of all your monthly credit card debts and order them from smallest payment to largest. Pay the minimum on all these debts and apply any extra towards the smallest payment. When that card is payed off, apply the amount you were paying on that to the next smallest debt.

For example, say you're making $75 payments to a small debt. When the debt is cleared add the $75 to the next debt on your list. If the next debt had a minimum payment of $100, you will now pay $175 until it is paid off. When that one is finished, take the $175 and add it to the next payment and so on.

Another way to get escalating credit debt back in control is credit card debt consolidation.
This means taking all your credit card debt consolidation is taking all your credit card payments and consolidating them into one monthly payment. This way, you don't have to worry about managing the payments individually. Aside from this advantage, it may also provide you with the following additional benefits:

- Reduction in interest payments
- Less late and overtime fees
- Reduced monthly payments
- Pay your cards off faster
- Improve your credit
- Save more money in the long run

There are two ways to attack credit card debt consolidation. One way is to use a Credit Card Counseling firm. They assist consumers by consolidating all their monthly payments into one single payment and then dispersing this to the creditors on behalf of the consumers.

The other way is through a home equity loan or other secured loan. This is done by exchanging an unsecured debt (such as credit card debt) for a secured debt (a debt backed by specific assets such as real estate).

Neither one of these solutions will erase your debt without you having to work at it. You will still have a long road to pay off the debt you have accumulated but with a set plan it will make paying off that debt easier as well as establish more responsible use of credit cards for your future.

Do you have a card with an annual fee? If you have more than one card in your wallet and one of them is a rewards card, you probably do. I have good news. You may be able to get out of paying your annual fee.

First, let's be clear. If you can't get your annual fee waived without lying, then you should pay it. America is upset when businesses don't tell the truth so we should hold ourselves to the same standards.

With that in mind, two facts must be true in your life: First, you must have good or excellent credit history with all of your credit card bills paid on time and no over the limit charges. In short, your record with that company must be spotless.

Next, you have to have more than one credit card. If you're not willing to cancel your card and have no card to fall back on if it does come to that, then find another card before calling.

If both of these facts are true of you, give your credit card company a call. Remember the words of Dale Carnegie. You will always get further if you don't make somebody defensive so when you call, be well spoken, confident, and friendly.

Tell the representative that you noticed an annual fee on your statement and you wanted to know why. After the scripted answer, providing you have another card without an annual fee, ask them why your (fill in the blank) card has no annual fee. You might even mention that you were online and noticed that cards similar to theirs had no annual fee.

Next, tell them that you have to make sure that you are getting the best rates and that somebody with your excellent credit can qualify for other cards without an annual fee and unless they can waive it, you feel you will need to cancel the card.

One of two things will happen: Either they will say something about noticing that you have a flawless credit history and for this year they will waive the fee or they will ask if you would like to be sent to the 'cancellation department'. Tell them yes. This is often a bluff on their part.

Once you get a representative, they will either tell you that there is nothing they can do or, more often, they will waive the fee. If they say that you are a valued customer buy there is nothing they can do, your only option left is to cancel the card.

Most people report that this works most of the time so if you are fed up with your annual fee, call them and give it a try. There is no reason to pay this fee, if you ask me.

Article Source : Cash Back Rewards Credit Cards

About Author

Both Lee Dobbins & Tim Parker are contributors for EditorialToday. The above articles have been edited for relevancy and timeliness. All write-ups, reviews, tips and guides published by EditorialToday.com and its partners or affiliates are for informational purposes only. They should not be used for any legal or any other type of advice. We do not endorse any author, contributor, writer or article posted by our team.

Lee Dobbins has sinced written about articles on various topics from Home Management, Diamonds and Install Flooring. Find out how to repair your credit with this . Lee Dobbins is a freelance writer and enjoys writing about many topics including. Lee Dobbins's top article generates over 246000 views. to your Favourites.

Tim Parker has sinced written about articles on various topics from Airline Credit Cards, Bad Credit Loans and Sales and Negotiation. Instead of just getting your credit card fees waived, you might also want to consider applying for a or a. Tim Parker's top article generates over 8100 views. to your Favourites.