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15 tips for avoiding credit card debt

Posted Jul 22nd, 2010 at 10:25 AM and seen
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When used responsibly, a credit card can be great credit building tool, or even a lifesaver to get you out of an unexpected jam. But when used irresponsibly, the consequences can be extremely dangerous. To ensure you avoid the pitfalls, be sure to read up on these fifteen quick lessons on avoiding credit card debt. See a few hints below:

  • Preapproved is not prequalified
  • Low and monthly payments are not your friend
  • Don’t be sucked in by rebate or reward programs

Read all fifteen at The Skinny On.

Lifehacks make life easier.

Photo credit: Fotolia

 Catherine Faas

Comments (3)

Jul 22, 2010
Todd Post said...
There are no good reasons to have a credit card. If you budget, save and use cash, there is no need for you to "build credit", even for buying a house. Bottom line, debt is dumb, cash is king! I heartily recommend people check out http://www.daveramsey.com/article/the-truth-about-credit-card-debt/lifeandmon...
Jul 22, 2010
ExcellentCandy said...
Right on, Todd! A properly funded "emergency fund" can get you out of those "unexpected jams." A credit card should not be your lifeline.
Jul 23, 2010
pat said...
I always thought a pair of scissors was the best way to avoid credit card debt. Great link.

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