Credit card debt is an on going problem. Especially for people ages 20-29 who carry an average of $5,781 in revolving debt. According to Kathy Chu, author of How to Escape Credit Card Debt, t his is 24% higher than it was five years ago. The short term freedom that credit cards portray a good message to young people. They give the message "buy now, pay later." But in the long run it will mkae it harder for them to buy bigger more substantial things in the future such as a house.
Tips to stay out of credit card debt all together.
1. Limit your card use.
2. Cut some cards up that you recieve in the mail.
3. Negotiatie lower rates .
4. Pay a high rate to low-rate debt.
5. Pay bills on time.
6. Beware of low-rate loans to pay off credit cards.
