Millions of Americans have credit cards that they use frequently for all types of purchases. In fact, using credit cards to make purchases can become quite normal for many people, as they shop online or in stores and then pay off the balance owned when the monthly statement comes in the mail. However, many of our readers in the Louisville area probably know that using credit cards too often when making purchases can quickly lead to the buildup of seemingly insurmountable credit card debt.

Fortunately, there are some tips that our readers may try to follow to attempt to curtail the amount of credit card debt they are accumulating. A recent news article pointed out, for example, that when it comes to using credit cards for purchases it is best if the amount charged can be paid off in full when the statement comes. Carrying a balance on credit cards is how interest piles up – and quickly.

Next, if Louisville area residents do use credit cards even when there are balances carried over month-to-month, people should avoid using credit cards if they are unaware of the limit on any given credit card. Pushing the balance of a credit card close to the limit can have a direct impact on a person’s credit score.

Lastly, most credit cards offer cash advances. The recent news article pointed out that these cash advances usually have incredibly high interest rates and, if at all possible, should probably be avoided.

Credit card debt can make a person’s finances untenable. When it seems insurmountable, bankruptcy may become a viable option.