Tips on How to Cut Credit Card Debt

Most Americans have too much credit card debt, we've all heard that before, right? Only now its gotten a bit personal... right again? You personally have too much credit card debt and its about to drive you crazy. You may even find yourself making plans at some luxurious spa, to sample of their relaxing (not to mention, extremely costly) facials, massages or treatments. After all, you work hard and so you've definitely earned it since you've been stressed out all month long from your hectic schedule and tight deadlines.

Well there is hope so don't file those bankruptcy papers just yet. One major thing you have to keep in mind is your creditor is probably very willing to work with you. Its in their best interest to have you making some payment versus no payment.

So here are a couple points to help you deal with your credit card debt. The first thing you have to do is simply contact your creditor and let them know your situation. Ask for a lower interest rate or a repayment plan. You might not have thought of it because you're just naturally so polite but it’s a very good strategy to be courteous at all times when negotiating with your creditor.

Polite, but firm. Come across as one who knows what you're asking for and expect to get it. If you're not sure what you're asking for in the first place you might consider a reputable credit counseling service.

There's a lot of great, honest organizations out there whose mission is to help you work things out with your creditors. Next you've GOT to stop using your cards. Cut them up, freeze them in a tub of water, whatever you need to do to get them out of your wallet or purse, do it! You simply can't keep adding to the problem by running the debt up any higher. This is actually one of the hardest parts of cutting your credit card debt. Its like you're addicted to spending money you don't have.

So go cold turkey and drop the habit. Start paying the ones with the highest interest rate first and work from there. How do you do that? Concentrate on those high interest rate cards by paying more than the minimum balance each month. The minimum is just designed to keep you on the hook longer anyway. The credit card companies are in this business to make a profit and want to have you paying them for years to come. Even a little extra each month makes a big difference in the long run. Lastly, keep your chin up and have a good attitude. Millions of folks just like you have begun to cut their credit card debt by following the common sense steps outlined above. You can do it too. Good luck.

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How the Pin Helps Reduce Credit Card Fraud

The newly introduced Chip and Pin scheme has been incorporated in almost all shops, shopping centers, restaurants and web sites. The main intent of introducing such a system is to prevent credit card owners from signing for their purchases with the hope that it might, to a large extent, curb credit card fraud.

For an initial period of time, card owners could persuade shops to accept their signatures by pleading that they have forgotten their Pin and shop keepers could bypass the Pin requirement as requested. For some time now, this has become largely impossible and now you can no longer sign for purchases, making fraud that much more difficult.

• How to Choose a Credit Card
  When it comes to choosing a credit card, you have many options to consider as a means of achieving your goal. Ultimately you want a credit card that is the cheapest, and that gives you the most flexible terms and conditions...

With this new system, even though your card might get stolen and even though your card details can be leaked, it cannot be used unscrupulously without your credit card Pin.

How the Chip and Pin System Works
The Chip and Pin is given to you by your bank - if you haven’t yet received it, you should request it immediately. The bank sends you a default Pin number which you can change if you wish, to do this you will need to visit the nearest ATM, and select a number you are likely to remember.

Selecting a Secure Pin Number
Avoid using numbers which can be derived from your card or your records, for example, avoid selecting obvious choices such as your birth date or part of your phone number as your Pin. Additionally you should avoid too many repetitive numbers; if you’re stuck for suggestions you could try following these tips to select a secure Pin number:

• Shift all numbers by one. If your preferred Pin number is your birth date - 020470 then your new , more secure Pin number could read 131581 or 010369
• Work out a pattern on the keyboard of your ATM
• Reverse your favorite digits, read them from right to left, or add a sum of 44 or 77 or whatever to make your Pin number more difficult to guess

Once you have selected and changed your Pin, remember to keep it secret as it’s the only security you have against credit card fraud. If you have several cards, you could juggle the numbers between them for extra security. After all, how many Pins can you remember? If you have trouble recalling the numbers, either put them in a password protected file on your PC or make a note of it in your mobile phone. Then, of course, keep praying your wallet and cellular phone are not stolen together by the same thief. More on this article...