Credit Card debt on the rise

[bjl584]

News Headlines

[disneysteve]

"More specifically, you can take the following steps to add discipline to your credit card use:

Ask your issuer to reduce your monthly spending limit to your budgeted amount "

This sounds good but doesn't work for 2 reasons.

1. The card company doesn't stop you from charging over your limit. They just rape you with fees if you do.

2. If you charge up to your limit, you'll wreck your credit score.

[jadet]

You can also link all you accounts to mint.com to keep track of your financials. In the end it's all about being disciplined enough to not go viral with spending.