Home Business Profits Guide

You are not doing yourself any favors by paying the minimum on your credit cards. You're only paying toward the interest and your debt is not getting any smaller or going away. To start downsizing your balance, do not use the card anymore until you have paid it off... Start by paying at least 50% of the balance due each month. If that's not feasible, use your best judgement and focus on paying down your debt.

You're going to have to establish some priorities, if you continue living on a wing and a prayer from payday to payday you're going to dig yourself a hole you may not be able to get out of... one of these days you're going to want or need good credit.

It is not a good idea to continually carry a balance close to your limit. One it makes you look like a higher risk to the card companies and two you have no room for oopsies like forgetting that your annual fee is coming around again or a charge you forgot to write down. Ideally you should be under 30% usage of your credit line but at the very least try to keep it under 50%. You are more likely to get better cards and higher limits if you do that.

Try to be more credit conscious and ALWAYS leave yourself a margin of 100 dollars on the balance. You are showing very POOR credit habits by not making SURE you are paying more than the limit EVERY single month. If not the entire balance.