How Do We Manage our Credit Card Debt?

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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How Do We Manage our Credit Card Debt?

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Step 1

There are many ways to manage the credit card debt. Some of them are below:

  • Pay more than the minimum amount
  • Improve the spending habits 
  • Review all the credit report and try to control irrelevant credits
  • Pay all the bills on time
  • Get the credit card interest rate lowered because of timely payments and have been a long-time customer
  • Build an emergency fund, it will help you to pay bill when it is needed most.
  • Understand the credit utilization rate and keep it lower only.

Above are the some ways to manage credit card debt.

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