If you stroll through the middle of a college campus in the US, you might be snowed under by the art of tabling, the clever marketing ploys of the credit card issuers who would set up booths to lure the students with some free gifts in exchange of filing out a credit card application. Too many students were being brought into the credit card debt cycle and majority of them didn’t even know the upshots of drowning up to their eyeballs in credit card debt. It was only after the Credit CARD Act of 2009 that the cheery promoters of various credit card companies, the free tee-shirts and the humble booths almost neared extinction. The new regulation brought in by the Credit CARD Act rebuked the aggressive tactics and demanded more transparent disclosures in the credit card agreements.

According to the Consumer Financial Protection Bureau (CFPB), the consumer watchdog, there has been a report that detailed a considerable decline between the credit card issuers and the higher education institutions and colleges. However, if you’ve already racked up credit card debt, here are some tips for the students to get back on track.

  • Stop being an impulsive shopper: According to recent survey, young people within 18 and 34 spend a huge amount of their dollars on things that they can do without. Moreover, they’re not interested in the least to follow a frugal lifestyle. If you’re someone who is an impulsive shopper, you should be aware of the fact that when you’ve racked up debt, it is perhaps your first job to repay the debt and lower the compounding interest that you’re accumulating.
  • Learn to say ‘No’ to the credit card companies: Although the Credit CARD Act has reduced the number of credit card issuers who employ shady tactics to bring the students into their business by making them fill out credit card application forms, yet there are still some lingering around. You should learn to say a firm ‘No’ to the credit card issuers so that all their efforts to pull you into their business ultimately goes in vain.
  • Evaluate the importance of money: Unless you evaluate the importance of money and know how tough it is to make money, you won’t ever take the right steps towards saving the same. Look for a part-time job so that you can earn money on your own. It is only when you earn money that you become responsible about the dollars. Start saving money in a savings account.
  • Get professional help if needed: If you’re not being able to manage debt on your own, you might get professional help as well. There are credit counseling agencies, the non-profit debt consolidation companies through which you can alter the terms and conditions of your debt accounts and thereby repay the entire amount with ease.

Therefore, if you’re a student who is gradually digging deeper into the debt cycle, follow the above mentioned tips to avoid credit card debt. Seek professional credit card debt relief in order to bid goodbye to your personal debts.

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