If your credit card debt is getting out of hand, the first thing you need to do is stop using your credit cards. Many people get into the mindset of "I'll pay it off later" or "I'm already in debt, what will a little debt hurt?".
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Yes, the key to this is IF your credit card debt is getting out of hand. The Visa I have gives me cash back, like 3% on GAS, office supplies, building supplies, and restaurants. I get app. $350.00 back a year! FREE MONEY just for using the card. I receive 1% on all other purchases like groceries and even snacks or clothes, everything. IF you can control yourself and pay off your card every month, you can make GOOD Christmas money.
I highly suggest Dave Ramsey's total money makeover plan. He advocates not using credit cards at all, paying cash for your cars and paying off your mortgages. You can use a debit card for things like travel.
Not only does paying with cash help you get out of debt or start paying it off. Paying with cash saves everyone money.
"Cashback" and other credit card rewards are NOT free money. They come from the money that the bank charges the retailer to accept the card (anywhere from 3% -7% of the amount you purchased). As more people start using credit cards instead of cash, that amount adds up to such a large amount that the retailer has to raise prices to cover the extra expense - which means everyone is paying higher prices.
Debit cards are now limited to a maximum charge of 25 cents for processing them; so, if you do not want to carry cash - use a debit card, stay out of debt, help keep prices down.
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