According to CBS News, nearly half of Americans have more credit card debt then they do savings, the lowest percentage since the figure was first tracked in 2011. With each year, more and more Americans find themselves facing an uphill battle against credit card debt. Turning to the aid of credit counseling services may not only help you pay off your debts, but help you achieve and maintain a healthy financial state.

Many Americans own more than one credit card, getting their first at around their 21st birthday. While most manage to pay their full balances off each month, there are still a significant amount of people who cannot afford their complete credit card payment, letting high interest rates rack up and burying them further into debt. The average household faces nearly $15,000 in credit card debt, but there are several tips and steps you can take to rid yourself of stressful credit card debt.

If you are using credit cards for everyday purchases such as food or gas while only paying off the minimum monthly payments, you may find yourself at high risk for credit card debt. Spending more than what you earn is often a poor decision that will leave you struggling financially with credit card debt. This type of unruly spending may cause you to be late on your bill payments, putting your credit score in danger.

Cutting down on unnecessary spending with your credit card can help to keep your debt at a minimum. Cutting out extra expenses such as expensive take out, daily coffees, ATM fees and more can go a long way and help you to better manage your money. Enrolling the aid of credit counseling services can bring balance to your check book and provide you with more money saving tips.

Interest Rates and APRs

Before applying for any credit card, it is important to understand the interest rates behind the card. Today, overall market credit card interest rates average out around 17%, variable rate at 15.6%, and fixed-rate at 13.02%. Making sure you stay on top of your credit card payments will help to keep down the amount of interest you will have to pay and help you to avoid credit card debt.

In addition to understanding the ins and outs of interest rates, knowing the different types of APR can help you to better manage your finances and avoid costly credit card debt.  This basic knowledge of your credit card’s APR can help you ensure you are not paying too much for the money you are borrowing. There are four primary types of APR when it comes to credit cards: purchase, cash advance, balance transfer and penalty.

Advantage Credit Counseling Service offers debt relief services such as credit counseling and debt management solutions for those struggling with credit card debt. Many times, our certified credit counselors can help you to reduce or completely waive your high interest rates, reduce monthly payments, stop harassing calls from credit card debt collectors and more. Our advisors take a personal and unique approach for each client, ensuring that you will receive the debt consoling you need. Contact Advantage Credit Counseling Services today and start your journey towards reduced stress and financial freedom.