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Credit card bills and ratings don’t have to be confusing

On Behalf of | Jul 26, 2014 | Credit Card Debt, Firm News

Virtually anyone can find themselves in credit card debt or financial trouble. One reason people find it so easy to fall into credit card debt is a lack of understanding about how credit and credit card bills work. Anyone in Florida who finds they are experiencing financial difficulties may want to learn more about how credit affects finances and ratings overall.

One common myth is to close out credit card accounts if there are concerns over credit scores or how to repair a bad credit rating. The truth is that if accounts are left open, the amount of credit that is extended to a user is still high, which gives a higher ratio of debt to credit limits. Stopping usage of a credit card is fine, but keeping the account open is recommended for those concerned with credit scores.

Some people also assume that there must be a balance consistently on a credit card to build credit. A card can have a balance that is paid in full every month and still help build good credit. Paying a balance in full each month is an easy way to avoid interest charges and keep debt at bay.

For anyone who has struggled with debt, credit card bills may be a dreaded item in the mail each month. However, understanding how credit cards relate to a credit score can make those credit card bills less scary to open. Anyone struggling with debt in Florida or elsewhere may want to learn more about their options and how to best protect and build a good credit rating for future financial decisions. For some, filing for bankruptcy protection may be a good option to get a fresh financial start.

Source:, “5 credit card myths debunked”, Jason Steele, July 18, 2014

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