Wealth-Coaching

A comfortable credit limit is important to any successful debt elimination plan. And you will find that you will likely need to fight the credit card company to keep it lower once you start your debt reduction. If you have good standing with the company, after you have made three or four substantial payments in the hope of eliminating debt, your credit card company will reward you for your responsible habits by increasing your credit limit. All this means is that you are now authorized to spend more money that isn’t yours, tempting you to rack up more credit card debt. If this happens, you can call your credit card company and politely ask them not to increase your credit limit. It will make putting that big screen TV on your nearly cleared credit card that much harder.