A credit card is a card that you can use it to purchase goods or services by borrowing on credit. Nowadays, credit cards are almost a necessity which has caused many people facing credit card debt. Many people prefer have more than one credit card with a balance.

In a rapid technology growth environment, many people prefer to make online purchase over the internet which can save time and allowed buyers to purchase goods from overseas conveniently. Most of these transactions are need to pay by credit cards. Besides that, some university or college allowed paying tuition fees through credit cards. This have increase the number of people using credit cards especially college students.

Every time credit card users use a credit card, they are borrowing money from the credit card issuer. Therefore, each time use the credit card, they are increasing their credit card debt. Credit card user will receive a statement showing the total credit card debt with which given the option of paying the balance in full or making a partial or minimum payment each month. Many users especially those did not have the ability to pay off the balance in full will make the minimum payment only. When making only the minimum payment due, there will be interest charged on the balance owed. Other than that, the new monthly interest charges are calculated on the prior months balance causes user to end up paying interest on the previous month’s balance as well. Therefore, the credit card balance will keep on increase. The credit card debt cycle continues to increase even faster becomes a large amount that can seem impossible to pay off especially if spending habits are not controlled.

Prevention is better than cure. The credit card debts can be prevent in some ways. The key to solving the credit card debt problem is to stop the cycle. People should spend within their means, and if they are using their credit cards to purchase, they should have the means to settle the full payment at the end of the month. For those people such as students who do not have the financial ability to settle the credit card payment every month is not encourage to apply for credit cards. Users especially those holding more than one credit card should cut up the credit cards so that they will not tempted to use them. Besides that, people can apply and use debit cards instead of credit cards which can allow users spend within the constraint.

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