15 Instant Ways to Increase Credit Card Debt


In addition to the lack of additional information before buying a credit card, most credit card debt problems are usually the result of neglect and misuse. If you're still not sure why so many people are stuck with growing credit card debt problems, you can read our article 15 Instant Ways to Increase Credit Card Debt.

1. Use a loan to increase your income and make ends meet.

Most people use their credit cards for everyday purchases that they cannot afford to pay in cash. The credit card becomes their shopping tool, and before they realize it, they have accumulated a lot of credit card debt that they are unable to pay.

2. Late payment of credit card bills.

Late fees and interest can increase your credit card debt. Procrastination doesn't make you money, but it makes you pay!

3. Crediting of daily expenses.

Get in the habit of using your credit card for small purchases that can be easily paid in cash. Even a trip to the local convenience store is paid with a credit card, excluding the funds available for payment at the end of the month.

4. Gambling.

Online or offline gambling with a credit card can get out of hand. Haven't you heard of the evils of gambling?

5. Using your credit card internationally.

When you use your credit card for international transactions, additional fees and commissions will usually apply, not to mention exchange rates that can be lower compared to exchange offices.

6. Too many credit cards.

When you have too much credit available, it's easy to get more than you can afford to pay. Keep your wallet slim. Remove and cancel any additional credit cards you don't need.

7. Using a credit card for a major purchase.

Buying a car or something expensive can undoubtedly increase your credit card debt. Have you ever wondered if you can pay it at the end of the month when you receive your credit card bill?

8. Receiving cash advances.

Cash advances are usually accompanied by high service fees and possibly higher rates, if not maximum.

9. Adding additional names to your card.

Adding extra names to your card or giving a credit card to your girlfriend or brother means it's out of your control and can be charged for anything you still have to pay for. You can follow up by limiting their credit, but your girlfriend might dump you because of this;)

10. Payment for vacation by credit card.

Don't go on vacation if you can't pay for it in cash. Take a walk in the park instead.

11. Using a credit card to pay for tuition.

You will be better off using a federal student loan.

12. Use your credit card to chase bonus points, frequent flyer miles or cash.

If you can use your debit card to pay your bill, resist the temptation of bonus points, frequent flyer miles, or cashback that come with some credit cards. These awards should be awards, not goals that you should achieve.

13. Sign up for the first credit card offer that comes your way.

The fact that you can apply does not mean that you should use all the offers that you come across.

14. Use your credit card to improve your score.

It works if you can keep up with payments, but it's easy to get overwhelmed if not done properly.

15. Abuse of balance transfers

Balance transfer is designed to increase the rate of your loan. After completing the balance transfer, it is best to cut the other card rather than keep using it. Some are putting their balance sheets on hold but not keeping track of their spending, and as a result, their credit card debt continues to rise.
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