${site.data.firmName}${SEMFirmNameAlt} ${site.data.firmName}${SEMFirmNameAlt}
254-633-2876 | fax 866-825-8786
Main Menu
  • Let
    Our
    Family
  • Help
    Your
    Family
  • Free No Obligation
    Bankruptcy
    Consultations

Bankruptcy Attorney
Helping People Of Waco
Find Debt Relief

Keeping your credit card debts in check

Though they're not as widely discussed as student loan debts, credit card debts are nevertheless a significant issue for a great many American families. More than just the balance owed on a credit card, the interest rates endlessly pile on, turning a small, manageable amount of debt into an avalanche of unexpected bills. If you want to avoid racking up a significant credit card debt, there are some things you should know.

One of the most common mistakes that people make when obtaining a new credit card is believing that their limit is simply free money. Consumers have a credit limit of $4,000, for instance, and they suddenly spend as though they have $4,000 more in their bank account. No matter what your credit limit may be, consider the following when you receive a credit card:

  • Make your own limit. Banks and credit card companies want you to spend more than you can afford so that they can make money on the interest. That is why they give you such high credit limits. Simply ignoring the credit limits and creating your own limit based on your budget can help you avoid spending too much.
  • Pay off expenses monthly. Again, the goal for credit card companies is for you to spend more than you can pay off, which is why you are given weeks or months to make payments, and why you are given a minimum payment. If you only make the minimum payment, you may not even cover your interest rate. If you pay off the entire balance every month, you won't be charged any interest.
  • Keep only a few cards. The more credit cards you have, the more likely you will overlook a balance or two and not pay it off, allowing it to rack up interest. Keep only as many cards as you can manage.

These are just a few ways to manage credit card debt, but unfortunately, they do little to help individuals who are already swamped with debts that they cannot pay back. If you are struggling with credit card debts in Texas, consider contacting a bankruptcy attorney who can help you discharge your credit card debts so you can have a fresh financial start.

No Comments

Leave a comment
Comment Information
National Association of Consumer Bankruptcy Attorneys The College of the State Bar Of Texas Greater Waco Chamber of Commerce Member Logo

Office Location

The Kehl Law Firm, P.C. 3715 Bellmead Dr Waco, TX 76705

254-633-2876

Fax: 866-825-8786

Waco Law Office Map

Connect With Us

Bold labels are required.

Contact Information
disclaimer.

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

close

Privacy Policy