I currently have 2 credit cards wherein I am proud to say that I don’t have any outstanding balance in either of them. And I intend to let it stay that way. Yes, I still use them frequently in my purchases. But I know very well the hole credit card debts can put you into.

I have always believed that to solve a problem you have to know what caused the problem and acting upon it. It doesn’t only solve the problem but it also prevents your problem from occurring again.

The Credit Card Trap

So how do we really end up into the deep hole of credit card debt? I have 3 general scenarios. It may not cover all, but these are the most famous of all.

Even very small businesses accept credit cards

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Let’s face it. Most of us, if not all, have had our own share of problems on money and debt. Whether it’s about trying to manage our credit card debts, paying our personal loans, paying our officemate or schoolmate money we lent from them, or simply just staying out of debt if you don’t have one. If you’ve not experienced any or something related of what I’ve mentioned above,then its either your very, very rich and you’ll stay rich. Or maybe you’re not human – you have been living in another planet where the concept of money doesn’t exist.

Let’s first talk about two of the most famous ways to EASILY get into debt.

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