If you own a credit card, then you need to be very cautious on how you use it to avoid the trap of bad debt. Each year, thousands of consumers are caught in bad credit primarily due to credit card debt?

This article talks about the steps that a person can do to get out of credit card debt.

Know where you stand.

How do you owe your credit card issuer? Are you certain that the charges in your credit card statement are correct? Do you often check your bills or do you just pay your balance without even taking a look at your billing statement? Before setting out to pay your debts, it’s important to be sure that you are not being charged for transactions that you did not make. Carefully review each of your credit card accounts and in case you find unauthorized charges, do not hesitate to dispute them with your bank or credit card issuer.

Prioritize.

Do you own multiple credit cards? If you have an existing balance on each account, be sure to check which of your credit cards charge the highest interest rates as these are the ones that you want to pay down first.

Instead of submitting the minimum due payment on each credit card, try to complete your payment on the account with highest rate. This way, you can stop your debts from fast accumulation because of the high rates.

Negotiate.

Consider negotiating your debts with bank or credit card issuer. If you have good credit history, use it to your advantage. You might be able to convince your credit cards issuer to lower your interest rate or waive late fees so you can have an easier time paying your balances.

When negotiating credit card debt, ask to speak with the right person, someone who has the power to make decisions. Ask the customer service representative to let you speak with the manager or the supervisor.

Don’t add to the problem.

This is not the time to use your credit cards for new purchases. Of course, doing so would only add up to the problem. Paying your credit card debt completely is your main goal and you should do everything to do is as quickly as you can.

Consolidate.

Have you thought about debt consolidation? There are actually two ways to consolidate credit card debt. One is by taking out a loan and the second way is to get a credit card with zero interest balance transfer rate. Regardless of which method you choose, keep in mind that consolidation is only the first step. Successful consolidation will still depend on how well you will be able to keep up with your payments.