credit cards

A colleague of mine literally cut her credit card into two she said she’s paying the monthly bill and she ut the card so she wont have anything to use and so that she won’t be tempted to use it. Her bill has accumulated over the past 5 years and she’s paying the interest on top of the capital and when I heard the amount, I was worried shitless. A hundred thousand tops and she’s paying like five thousand every month and am not sure if its diminishing the outstanding balance greatly. She doesn’t seem to be that worried but I worry for her, my outstanding balance is not even 1/8 of what she owes the credit company. Right now one of the things her sister, who is based in the US suggest she do is check for companies that would offer free credit report so she can track down her expenses, run comparisons, and make action plans to minimize her expenses. Accdg. to her sister in the States it is important that one’s credit score is of good standing otherwise you’d have difficulty acquiring things and the likes. So up there, there are various finanial companies offering services like credit check, debt management and sometimes they would give tips and suggestions on how to improve credit for the betterment of your credit/financial standing.