Credit Card Debt - The Secret History of the Credit Card

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PBS has an interesting series called The Secret History of the Credit Card.

I never though that credit card debt would happen to me, but it is something that I eventually dealt with. It was a difficult uphill struggle to get rid of the debt, but a great relief when it was over.

I recommend watching the PBS video series.

I still have credit cards but I made some important changes and have these tips to offer from my experience:

  • Use a separate credit card for all business expenses.
  • Don't spend more than you can pay off during the month.
  • Don't carry credit cards in your wallet.
  • Don't have more credit cards than you can keep track of. Too many different due dates can throw you off.
  • Make sure you know how much interest you are paying on your credit cards.
  • Don't declare Bankrupcy.

Further Reading

  • Credit Card Debt — A serious problem...
  • Bankruptcy — Bankruptcy is a tempting solution to credit card debt, but I think that is a mistake that can cause problems in the future.
  • Bankruptcy Law — More information about Bankrupcy law.
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