Here’s How To Stop Using Credit Cards Forever And Get Your Life Back

 

Image of Someone Making A Purchase With A Credit Card

10 Tips To Stop Using Credit Cards

1. Freeze the limit on all your cards today unless you can do tip No.2

2. Pay off your credit cards and cancel them If you can.

3. For credit card that you can’t pay off and close, try and get a consolation loan.

4. Open a line of credit for emergencies and close your cards.

5. Eliminate the points and cash back mentality UNLESS you have the discipline to pay off your credit card in full each much.

6. Understand using a credit to buy everything is a habit that you’re strengthening by purchasing things you don’t have the money for.

7. Create a budget to better understand what you can spend.

8. Create a cash reserve fund so you don’t have to keep credit cards around for an emergency.

9. Figure out how much interest it cost you MONTHLY to use ALL your credit card – The amount will be an eye opener, you may find a large portion of your income is going towards interest payments.

10. Figure out how many years it will take to pay off your credit if keep making minimum payments – It will surprise you.

A Collection of Web Pages About Credit Card Spending

 

Credit Card Debt Statistics

Credit card debt hits record high

The average American has a credit card balance of $6,375, up nearly 3 percent from last year, according to Experian’s annual study on the state of credit and debt in America.

Total credit card debt has reached its highest point ever, surpassing $1 trillion in 2017, according to a separate report by the Federal Reserve…More at http://cnbc.com

Credit card debt statistics – CreditCards.com

The amount of average credit card debt has been steadily increasing, after dipping in the wake of the Great Recession. Balances have been creeping up since then at a national level, though some states have seen decreases.

The average credit card debt per borrower also has been rising in recent years to $5,472 in the first quarter of 2018, according to TransUnion statistics…More at http://creditcards.com

American Household Credit Card Debt Statistics: 2018 – NerdWallet

Credit card balances carried from month to month continue to inch up, reaching $420.22 billion in late 2018, according to NerdWallet’s annual analysis of U.S. household debt.

That’s an increase of about 5% over last year. And for Americans carrying that debt, the impact is significant…More at http://nerdwallet.com

Average Credit Card Debt Statistics: March 2019

The average credit card debt in America is $5,331 per person, but there’s more to this figure than meets the eye. We break it down in shocking detail.

We love our credit cards in America. But unfortunately, credit card debt is a major problem.

Credit cards have simplified our lives and helped us reach personal goals. But their overuse has also contributed to an ever-growing debt problem…More at http://creditdonkey.com

Average Credit Card Debt in America: March 2019 – ValuePenguin

Our researchers found the median debt per American household to be $2,300, while the average debt stands at $5,700.

Combined data from the U.S. Census Bureau and the Federal Reserve allowed us to dive deeper into credit card debt in…More at http://valuepenguin.com

2018 Credit Card Debt Statistics in the U.S. – Lexington Law

As the total credit card debt continues to rise in America it is important to note the causes of such a large debt.

15 percent of American families are living past their means and are spending more than they receive on a monthly basis…More at http://lexingtonlaw.com

Average Credit Card Debt: U.S. Statistics

The average credit card debt per U.S. household was $8,187 in December 2018. That’s $1.045 trillion in total credit card debt divided by 128 million U.S. households.

It’s 2 percent more than in November, according to the Federal Reserve’s G-19 report. It exceeds the pre-recession record of $1.02 trillion reached in 2008.

The average credit card debt per individual adult (there’s 253 million) is $4,116…More at http://thebalance.com

Average credit card debt in every state, ranked lowest to highest – Business Insider

ValuePenguin found that more than 40% of all US households carry credit card debt, with the average American household carrying a balance of $5,700.

For only indebted households, which excludes people who pay their balances in full every month, the average debt is $9,333…More at http://businessinsider.com

Average American Household Has $8,284 in Credit Card Debt | Fortune

In its study of American debt load in the third quarter, personal finance site WalletHub found that the average U.S. household now has $8,284 in credit card debt, a 2% jump compared to the $8,107 in credit card debt American households had in the third quarter of 2017.

In total, Americans have $974.2 billion in credit card debt, a 3% jump compared to the $949.9 billion in debt they had in the prior year…More at http://fortune.com

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