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After you pay off credit card debt

Date: Wed, 11/21/2007 - 02:57

Submitted by success4resource
on Wed, 11/21/2007 - 02:57

Posts: 74 Credits: [Donate]

Total Replies: 3


credit card debt is a very big problem that is being faced by a lot of people who have been irresponsible and undisciplined in the use of their credit card. Though some might have landed up with credit card debt due to some unfortunate event/emergency in their life, most people carry a credit card debt due to their own wrong doings (i.e. wrong usage of their credit card debt). There are a lot of ways to pay off credit card debt and a lot of people do achieve this feat (i.e. are able to pay off credit card debt). Surely, to be able to pay off credit card debt is really a great achievement in itself for not everyone is able to pay off credit card debt. It takes a lot of discipline, restraint, planning and perseverance to finally pay off credit card debt. However, there is more to paying off credit card debt then just being able to pay off credit card debt.

Here we are talking about the life after you pay off credit card debt successfully. As mentioned before, of all the people that try to pay off credit card debt not everyone is able to pay off credit card debt i.e. there are some failures too. However, some people fail after they have succeeded in paying off credit card debt. These are those people who let themselves loose and go on a spending spree as soon as they pay off credit card debt. Soon, these people again land up with a credit card debt and are again trying to pay off credit card debt. So, it’s not enough to just pay off credit card debt, it’s equally important to maintain a debt-free status even after you pay off credit card debt; only then can you enjoy a stress-free life in the world of credit cards. So learn your lessons well and do not let yourself loose on the path to another credit card debt. Most of the rules that you followed when you were trying to pay off credit card debt, will also hold good after you have paid off your credit card debt. Here is a quick synopsis of things that you should take care of even after you pay off credit card debt:

1)Do not overspend. Yielding to the sale offers for something that you don’t really need, is a big mistake that leads to overspending

2)Always remain within 70% of your credit limit.

3)Make credit card bill payments in time and in full.

4)Don’t hold more than 2 credit card accounts (two are enough for anyone)

These are just very basic things; you can add more based on your own experience and knowledge.


What you have written is the the truth, the whole truth and nothing but the truth. It is the financial biography of a multitude of persons, many of whom are members and guests here including myself. If there is anything I might add the only thing would be that getting a secured credit card from your bank is always a good idea after emerging from the debt quagmire. Very often people get credit card "offers to help repair you credit" after they have damaged there credit scores. These card companies charge high interest rates and their sole purpose for existence is to get you maxed at the 300.00 limit and keep you there as long as possible. If you pay them on time they will raise your limit and then your interest rate. (read the fine print) With a secured card a person is more likely to be conservative and pay in full if what savings they have is held as collateral against the card. Aside from that I think you have said it all.
I hope that all our readers digest what you have written and heed you sound advice!


lrhall41

Submitted by Frogpatch on Wed, 11/21/2007 - 03:27

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