How eliminate credit card debt.?

Question

When a card holder uses a credit card, he is borrowing from the credit company. How he eliminate his credit card debt.

Answer 1

You need to take some time and learn about money management. It sounds like an old, worn out line but it is true. Using credit cards can help "balance" your money to some degree but it needs to be used wisely. By balance I mean that it can help you during low points of available cash. For people being paid monthly, credit cards can be a real help.

The only proper way to get out of debt is to pay it off and manage your money better.

Answer 2

I f you actually used the card yourself, you are liable for any purchase. But if you card was either lost or stolen you are only responsible for 50 dollars, no matter who used it by federal law. Its called the consumer protection act of 1994. The only way you can can recoupt menies is if you were not satisified with your purchase and call the card lender and tell them. You have 60 days after any purchase to dispute, it falls under the same act.

Answer 3

Pay off your card and get rid of it. Credit cards are a rip off. They are the equivalent of loan sharks.

If you don't have the money for something, you can't afford it. Credit cards open you up to fraud. Someone can get your card number and get a duplicate card for them self with your name on it. And everything that you use the card for is recorded on a computer. You are loosing your financial privacy. Get rid of your credit cards. Use cash whenever you can, otherwise checks.

Answer 4

the credit card company has what is called a warehouse, basically this is money given to them by investors. the interest you pay goes to the credit card companies and to the investors. that is why there are so many penalties and why the rates are so high! hope i answered your question!

Answer 5

Cut them up NOW since Capital One Sucks!

Answer 6

Pay at least 60%. keep you balance below 60%.

Answer 7

pay the entire balance in full each month

Answer 8

Pay it?