The Best Way To Pay Off Secured Credit Cards

by Mack Bartlett

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A secured credit card can be a touchy thing. You definitely need to make sure that you pay your bills. Many people don’t know much about the best way to pay off secured credit cards or sometimes even how to get them.

This is a great example I have here for so many people to get into the habit to start spending their credit cards the right way. I am going to talk not just about paying off the secured credit cards, but more importantly how you should spend on these cards. I have a story from a friend of mine that has been through a lot and has struggled to get his credit turned around. It took him some time and this is his experience:

I had such a horrible time using my credit cards correctly. I struggled to know how to do it right. My spending habits were pathetic. I couldn’t make payments because I was spending so much more than I could afford. It was difficult for me to pay off my debts.

First, I couldn’t pay off any debts and I started building up interest. It continued to multiply and then I couldn’t even pay the full interest any more and the principle wasn’t even a thought. It got so bad that I had to stop my credit cards. I had to drastically change my spending habits and pay off so much debt.

My credit was in the can, but I wanted to get a business going. I spent so much money on consumer debt that was just staying there doing nothing and hurting my score. I started to realize about leveraging capabilities. There were people that would spend so much money and more than I was, but they were using that money to make them money. I realized this from a friend that was sporting the American Express Black card.

Well that type of a card was out of my range. So I had to look at a secured line of credit that was out there that I could get my hands onto. I found some business partially secured credit cards that were quality interest rates and not a lot of application fees that I knew would be a pain in the neck if I didn’t take care of it. I started using these cards wisely for the first time in my life. I thought to myself each time and for the first time, ‘Should I pay for it or can I go without it?’ Finally, I found myself spending more wisely.

This friend of mine has improved his credit gradually and found out the best way to pay off secured credit cards. Be careful what you buy. One of the worst things you can do is spending too much and assuming that you will be able to pay it off. It is never that easy. You never realize what other bills may come up or other emergencies you may have. Play it safe and create more streams of income so you can spend lavishly, but within your means.

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