Credit cards can be a double-edged sword. If they are used properly the wise consumer can benefit quite nicely from the use of a credit card. Many credit card companies offer nice reward programs or a pretty decent percentage back on lots of different kinds of purchases. While these can be great, a pile of credit card debt can be extremely harmful to anyone. Particularly scary are statistics that show many of the Americans who are deepest into credit card debt make less than $50,000 per year. The people who can least afford to pay their way out of credit card debt are the ones most frequently getting into that terrible position.

Many consumers do not sit down and realize how much the credit card debt they are in is really costing them. Some rates are as high as 20% or so, and yet many consumers continue to fall deeper and deeper into the credit card debt trap.

How should you try to stay out of credit card debt problems? The best way to do that is by keeping the amount of credit cards you have to a minimum. All the rewards programs in the world cannot come close to making up for how much you’ll spend wallowing in credit card debt. Pick one or two cards that have great rewards programs and stick with them.

If you are already in debt the best thing to do is start by paying off those with the highest interest payments. Credit card debt relief is possible, so don’t think its an unreachable goal. Don’t simply pay the minimum every month or you won’t be getting anywhere. Find somewhere else in your life to cut some costs, such as taking your lunch to work rather than eating out, and pay a little extra on that debt.

Each year more Americans fall deeper into credit card debt, don’t let yourself be one of that quickly growing group!