The average American household carries $16,048 worth of interest-bearing credit card debt, which is perched around highs not seen since the Financial Crisis. Several factors underlie this trend, including the fact that expense growth has outpaced wage growth over the past decade, and Americans have a hard time sticking to a budget.
We Fools always encourage smart use of credit card debt. Paying off high-interest debt is a vital investment in your eventual financial security.
But in some instances, taking on a manageable amount of credit card debt makes sense. There is such a thing as good debt.
Credit card debt essentials
We've compiled several essential credit card tips and insights in the following videos and articles. They cover topics including the best balance-transfer credit cards -- which can help cardholders cut their interest payments with a 0% introductory APR -- and the difference between good debt and bad debt. You'll find a wealth of helpful information to help you start paying off debt.
- Best Balance-Transfer Credit Cards of 2017
- 2 Purchases to Never Put on Credit Cards
- 2 Credit Card Debt Tips That Could Save Your Wallet
- Here's the Average American's Credit Card Debt -- and How to Get Yours Under Control
- 2 Mistakes to Avoid When Paying Off Credit Card Debt
- There Are Only 2 Acceptable Reasons to Go Into Credit Card Debt, New Survey Shows
- Research Says You Should Pay Off Debt Like This
- Good Debt vs. Bad Debt
- 9 Ways to Pay Off Debt
- How Much Debt Is Too Much?
- How to Prioritize Paying Your Debts
5 Simple Tips to Skyrocket Your Credit Score Over 800!
Increasing your credit score above 800 will put you in rare company. So rare that only 1 in 9 Americans can claim they're members of this elite club. But contrary to popular belief, racking up a high credit score is a lot easier than you may have imagined following 5 simple, disciplined strategies. You'll find a full rundown of each inside our FREE credit score guide. It's time to put your financial future first and secure a lifetime of savings by increasing your credit score. Simply click here to claim a copy 5 Simple Tips to Skyrocket Your Credit Score over 800.
- 5 Simple Tricks for Boosting Your Credit Score
- How to Get Out of Your Car Lease Without Hurting Your Credit
- Is Debt Settlement a Good Idea?
- Store Credit Cards: Are They Worth It?
- What Are Virtual Credit Cards, and Should You Have One?
The Motley Fool has a disclosure policy.