Credit Card 50th birthday.

From todayâ??s Star Ledger;

Average debt per household last year, up to $8000.

Consider selling assets or getting a second job to pay off credit card debt.

â??And when times get really tough â?? like now, as layoffs and a slowing economy push more and more debt-laden consumers into a tight financial corner â?? Americans can use lower interest rate cards to pay down higher interest rate cards.â?

â??You can do whatever you want if you have access to creditâ?

â??And while the ease of credit cards is frequently blamed for driving millions of trigger-happy spendthrifts into crushing debt and even bankruptcy, there is a flip side.â?

Here are some tips, they may have been posted before, but they are worth repeating.

· Limit yourself to one major credit card so youâ??re not tempted to borrow from one card to pay off another. Obviously, not my way of doing things. Have as many cards as possible, but use your credit responsibly.

· Protect your card as if it were cash. Do not leave it unattended in a car, bar, nightclub or on the beach. It is cash, I think it is better than cash.

· Make sure you get your card back after every purchase.

· Never give your card number over the phone unless you are dealing with a reputable company or you initiated the call yourself.

· Always check your statement, especially after a trip. Look out for transactions that are not yours.

· Make a record of your credit card account numbers and emergency phone numbers for reporting lost or stolen cards. I keep all mine in quicken.


www.creditsense.com