Comments on: A Popular Cause of Credit Card Debt & How to Defeat it

By: Scott

Scott — Tue, 01 Jun 2010 18:52:22 +0000

Do you realize that credit card companies don’t really want you to pay off your credit card debt? See … the more credit card debt you have, the more interest you have to pay – and interest is the lifeblood of credit cards.

The thing is we’ve fallen into the trap where we become so enamored by its “convenience”; we easily overspend, and then put off payments. Did you notice how much larger your credit card limit is compared to your monthly income?

We use our credit cards for just about anything until we max it out – the convenience has successfully lulled us into the credit card trap.
Those credit card companies have us right where they want us; paying high interest and carrying the burden of high balances.

By: Credit Card Chaser

Credit Card Chaser — Fri, 11 Dec 2009 04:22:02 +0000

I have never thought of this scenario in this way but I definitely see how this could easily happen. It’s also important to resist the temptation to want to “show off” and always try to pay for the entire group’s meal.

By: Edwin

Edwin — Thu, 10 Dec 2009 03:16:28 +0000

One bad habit I used to have when it came to credit cards was convenience. Rather than having to pull out and count the cash I would just pick out the card and hand it over (ya I know… lazy). This in itself wasn’t necessarily the problem but many times while in college I would only pay the minimum rather than paying off the card so it would just keep accruing.

Luckily I started controlling that habit awhile ago.