Q&A: How To Use A Credit Card Wisely, Tips on Paying Off Credit Card Debt

In this #TaraToldYou Episode, I answer two credit card questions from Valencia and Brittany.

Tips for using your credit card wisely:

  1. Never exceed $50 per month on your credit card.
  2. Pay off your balance in full immediately.
  3. Use 20% or less of your credit limit.

Tips for paying off credit card debt:

  1. Pay off all credit card debt smallest balance to largest balance (debt snowball).
  2. If debt is in collections, negotiate a lump sum settlement.
  3. Pay off the debt quickly and reassess to prevent it from happening again.

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