I love my credit cards. It actually makes me spend less if you can believe it. Cash burns a whole in my pocket. However, we are people who pay our credit cards off every month. That is my credit card advice. The numbers scare me for people who pay 22% interest on horribly high credit balances. How can you do that? How do you ever get out of debt?

The latest credit card news is that if you are late paying on your credit cards, it can screw up more in your life. It can make your life more difficult. Not only will that credit card’s interest rate go up, all your other credit card rates can go up to. You can be denied utilities when you sign up. What happens is that the credit card company reports you to the credit bureaus, and it is downhill from there.