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Do you know someone in credit card debt? You can help that someone at no cost by information/knowledge sharing.

Some banks offer 1) Auto pay of credit card from savings account and 2) change credit card bill date to be 1 day after pay day.

Bank's sales and branch staff do not actively promote this or share this information with you.

What can you do?

You can help your children, your parents, your siblings, your relatives, and your colleagues by telling them about these services.

Some may argue that the best way is not to own a credit card, but that does not fall in favour of many people from the convenience and prestige the credit cashless payment had to offer.
Thus to mitigate the risk of late payment and falling into deeper debt, adopt the above control measure; especially useful when you are giving your child his/her first credit card.

Above is my humble opinion for your kind consideration.

Cheers and happy saving.

  • Apr 18 2012: There are other ways you can avoid credit card debt:

    - ask credit card company to set your credit limit to a small amount e.g. $500 or $1000. That way you cannot over spend and you can pay off your credit card every month. For large purchases use cheque or debit card

    - cancel credit cards and use debit card instead. You get the convenience without the danger of over spending

    Credit cards have typically large interest rate so one should pay off credit card every month.