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There are innumerable credit cards, which are available in the market. Since its a competitive market, credit card issuers will waive off joining fees and annual fees if you can negotiate. Thus there is no charge for holding the credit card Secondly all credit cards have a due date. Lets say that 15th of each date is your due date for making the payment. The credit card company will bill you for all charges up to say the 1st of every month. Therefore if you make purchases on the second, then it will reflect in your next month statement. This effectively gives you 45 days to the next payment. Therefore the money can earn more interest in your bank and you can also make a full payment. Thereby you will not incur any credit card debt. So you can get out of debt. Use cash for all daily purchases. Dont charge the credit card for small value items like $50 or so. Some stores will charge an additional fee if you shop on credit card below a stipulated amount such as $100. A dollar saved is a dollar earned. Carry only one credit card and dont rotate the credit card debt on many cards. Ultimately you will have to pay the credit card debt at one point of time. |
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