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Get the FACTS about Credit Cards...

Here is what you need to know...
   to break free of Credit Card Karma:

Credit Card Problems...
About Credit
   Rating-Score Repair

If you have bad credit... There are many reasons for poor credit ratings.

* You did it with credit cards (bouts of unemployment, bad spending habits, or just plain carelessness).
* Someone else did it to your credit cards (you let a spouse or a special friend run up your balances).
* You did it with other bills (defaulting on first or second mortgage payments, car loan payments, etc).
* You did it with other loans (defaulting on student loans, business loans, or other documented loans, etc).

For whatever reason, if you have a poor credit rating and you want to turn it around... here is what to do:

* Stop beating yourself up about it. Stop ignoring bills and collection notices. Decide today to do something about it. There is a way out from under a bad credit rating. It is NOT a quick fix. It will take patience, knowledge, and discipline to undo the harm that you have done to your credit rating. Start today, do it now.

* Stop charging on your credit cards. Start paying the minimum balance. If you cannot pay this minimum, call up your credit card company and let them know what you can pay. It is not in the interest of the credit card companies to write off your debt. They want to k eep your debt growing by you paying the minimum.

* When you can, pay off more than the minimum balance each time, even if it is as little as $10. Do your best to increase what you are paying over and above the minimum each and every month. Do not miss a month - ever. Get into the habit of paying down your debt. Get out of the habit of spending beyond your means.

* Keep current on your regular bills. Pay the bills in this order: 1) food, 2) rent or mortgage, 3) quasi rent or mortgage (home equity, association fees), 4) utility (power, water, etc), 5) phone, and then 6) credit card. You can live without a credit card... but you cannot live without food on the table or a roof over your head.

* Get a "secured credit card" (debit card). Unlike the "unsecured credit card", the debit card's "credit limit" is a percentage of the amount in your checking or savings account balance (as little as 50% or as much as 100%). Get in the habit of only spending LESS than the balance in the account secured by the credit card.

Here is what NOT to do... because these will definitely WORSEN your rating:

* Do not open up more new credit cards to pay off old credit cards. If you have more than 2 credit cards (one main one and another for emergencies only), work on consolidating them. Part of credit repair is proving that you can handle credit responsibly. Only improved, responsible spending habits can repair your credit!

* Beware fraudulent credit card repair services. If the deal they are offering is too good to be true then it is. There is no service out there that can repair your credit overnight - period! These scamsters are usually "here today, gone tomorrow." Never call a "900" number (most of which charge a minimum of $2 a minute).

* Go for professional help ONLY if you are so stressed out by your poor credit that you cannot see straight. Most of these services charge an upfront, non-refundable fee for the services they provide. Some can be helpful, but I have observed that - if you put in the time to do your own research - you do not really need them at all.

You will know that your bad credit rating has come to an end when... you have done all of the above for at least a year.

Keep up your "clean spending habits": pay your credit card bills in full and in time! Be consistent and be patient... and you will improve your credit rating over time.

Time is what it takes... and time will tell! If you do all of the above, you will get out of credit card hell! As the saying goes "manage your credit, manage your life!"