- If your debt covers more than one card, consolidate the debts to the card with the lowest interest rate. Sounds simple, but you'd be surprised at how many of us neglect this step.
- And the simplest, yet least heeded, piece of advice? Don't use the credit card unless you're sure you can pay the amount in full at the end of the month.
Read It With Your Own Eyes.
According to CardWeb.com, an online publisher covering the credit card and related industries, as of September 1, 2005, you are entitled -- thanks to Congress' Fair and Accurate Credit Transactions Act of 2003 -- to access your credit report from each of the three main credit bureaus (Experian, Equifax, and TransUnion) for free once each year.
It's Never Too Early!
The moral of this story is to not get involved in this no-win game. If you are already involved, the good news is that there are ways out. Do your research, be careful, don't try to find the free lunch that doesn't exist and always remember that if something sounds too good to be true, then chances are that it is!
Allison Nazarian is president and chief copywriter of Get It In Writing, Inc., a Florida-based company that helps businesses nationwide harness the power of words to sell, inform and publicize.
