CREDIT CARD DEATH

I used to have a total of P80,000.00 balance on 4 credit cards.  I have 6 credit cards.  That was 4 years ago.  I was in deep sh*t.  I can only pay the minimum amount due every month because I still have to pay for other things.  And when I ran out of money and needs to buy some groceries and milk for my son, I will use again my credit card.  It's a cycle.  I pay a little and spend a lot.  Luckily, my husband sold his other car and the proceeds went to paying the credit card balances.  I then terminated some of my cards and retain 3 of them.  Now, I'm wiser on using my card.

I still use my cards but I make sure that I will pay more than the minimum amount.  And sometimes even if I have the cash, I will use my card to earn some points then deposit the equivalent amount on my bank account and make payments thru online banking before the due date.