Credit Card Debt

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Use the Web to Take Charge of Your Credit

We use credit to make many substantial business deals, such as buying a home or car, or obtaining a loan. Other times, we simply want to use a credit card to make our daily lives a little easier. Whether you want to learn how to select the right credit card, protect yourself from identity theft, or learn how your credit score affects the loans you receive, the Web can serve as your guide to understanding, establishing, and maintaining good credit. For a Spanish-language version of the Guide, click here.

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What is Credit?

The credit card industry mailed more than six billion credit card offers to households during 2005. ... read more »

Finding and Improving Your Credit Score

Your credit score can have an impact on many aspects of your financial life, perhaps none more ... read more »

Choosing the Right Credit Card

There are credit cards to suit a unique array of personal needs. Flight miles, cash-back rewards, ... read more »

Credit Card Debt

If you're even asking this question, the answer is probably yes. In fact, because credit card debt typically carries the highest interest of any form of debt, any at all can be too much. If you find yourself struggling with credit card debt, the Web can be a good source of ideas to start correcting the problem.

Dulcinea's Insight

Your credit rating can affect your finances for years to come. Despite the good advice you can find on the Web about reducing or consolidating your credit card debt, you should always speak with a qualified accountant or other financial professional to begin your debt reduction.

Some debts, such as those with higher interest rates, are better to pay off before others. MSN Money can help you sort out which debts to pay off first in this article. Sometimes lowering your credit card's interest rate can be as easy as asking. Credit card companies often grant such requests, especially to customers who usually pay their bills on time.

Creditor Web, which we've mentioned in other sections of this guide, has information about how to pay off credit card debt.

Dulcinea's Picks

To learn how to avoid credit card debt ...

U.S. PIRG (the federation of state Public Interest Research Groups) has an article on "The Truth About Credit" that discusses how consumers can avoid getting into excessive credit card debt in the first place. Also read the "Deflate Your Rate" article, which explains how you can lower your credit card's APR.

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USA Today explains how to avoid excessive credit card debt during the holiday season in this article.

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For debt and credit counseling information ...

The National Foundation for Credit Counseling is an association of consumer credit counseling agencies that contains information about getting a financial counselor, finding an agency near you, and other options for getting out of debt. It also has information about education opportunities concerning good financial planning.

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The Federal Trade Commission (FTC) teaches that there are several important things you should consider before choosing a credit counselor and provides a list of questions to ask a prospective counselor. The site explains Debt Management Plans (DMPs) and suggests ways to make them work for you, and reveals the truth behind Debt Negotiation Programs.

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Consolidated Credit Counseling Services, Inc. discusses debt and whether you should consider consolidating your debt. Learn about debt management and its benefits, and other money management concepts such as bankruptcy and budgeting.

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