You Won't Need A Credit Card Debt Free Program If You Take Reducing Spending Limits Positively

I read from a credit card debt free program newsletter that due to recent credit crisis, credit cardholders are finding their lines of credit getting dramatically reduced by credit card issuers.

Some of my working mama buddies have already received notices from their credit card companies stating that their spending limits have been reduced dramatically, from $3,800 down to $1,000. They are pretty pissed off because they make timely payments and keep careful track of each charge.

Is reducing the spending limit good or bad? To me, a work-at-home woman who is burdened by credit card debt, I take reducing the credit limit positively.

Don’t you think it’s time for you to use cash more and depend less on credit cards? Or even better still, stop using credit cards.

If I could travel back to the past with the help of Hiro Nakamura, you know what I would do to change the past to positively effect the life I have today? I would not even apply for the best credit card available. Instead I would use cash.

It’s scary to see the interest I have been paying is creeping up and up, or my interest rate is still struggling because I have had a few dings of late payments, years back.

I am not saying that credit cards are bad. No. In fact, credit cards are attractive. They allow you to make purchases today and pay for them later or get cash advances when emergencies pop up.

But if you aren’t disciplined enough to control your spending habits, you may find yourself trying to beat credit card debt, borrowing more loans, and then later acquiring a home equity loan to pay down your credit card debt.

Let me tell you that in many cases, consumers didn’t simply use home loans to pay down their credit card debt. They ran up more credit card debt.

If you don’t want to get into this vicious cycle and find yourself needing a debt free management program in the end, make sure you are really disciplined enough to curb your spending habits.

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