When was the last time you used a credit card to make a purchase? Was it last week? A couple days ago? Or was it even sometime today?

According to cnbc.com’s Jan. 23, 2018, article titled “Credit card debt hits a record high; it’s time to pay off your debt,” Jessica Dickler writes, “The average American has a credit card balance of $6,375, up nearly 3 percent from [2017], according to Experian’s annual study on the state of credit and debt in America.

“Total credit card debt has reached its highest point ever, surpassing $1 trillion in 2017, according to a separate report by the Federal Reserve,” Dickler continues.

If you have a recurring high balance, are only making minimum payments and want to get that under control soon, March may be a good time to start. March 21 is National Credit Card Reduction Day.

Maria Kimble, contributing writer for The Trumpet Online, West Liberty University’s student online news source, says in the March 19, 2016, article titled “Credit Card Reduction Day teaches us to better our finances,” “Charges add up faster than you realize, so give your plastic a rest. If you have the cash, spend the green instead. In the long run, that is where your money will be going anyway.”

Kimble recommends knowing your credit line and when you are approaching it.

She also adds when you are able to pay off your credit card balance, the next step is to make a goal of paying the full amount every month thereafter.

Rod Griffin, Experian’s director of public education, who was interviewed in the CNBC article, also suggests a few ways to manage and bring down credit card balances.

• “Start by figuring out what you owe. Note balances and interest rates from your latest credit card and loan statements,” he says.

• If you have more than a couple debts, look at the numbers to see if a debt avalanche or a debt snowball approach would best fit your wallet and person outlook.

“Avalanche ranks your debts from highest to lowest interest rate. That way, you pay down the debts that rack up the most in interest first, saving you money,” Griffin says. “Snowball knocks out your smallest debts first, then larger ones. The idea is that you’ll gain momentum as the debts are paid off, motivating you to keep going.”

Just make sure to keep paying minimum payments on your debts, with extra cash being put toward the focused debt.

• “Consider tactics like consolidating your debt with a personal loan or low-rate credit card balance transfer offer,” Griffin says. “That can help you restructure your debt with more favorable terms. Just make sure you choose a strategy with monthly payments you can manage and put you on track to zero out the debt.”

• “Stop the cycle,” says Griffin, who recommends looking at your budget and your purchases, so you can decrease or eliminate the purchases that are not needed.

“Watch out for debt relief and consolidation scams. If you want help, look for a nonprofit credit counselor through nfcc.org,” Griffin says.

Although there may be negatives to having a credit card, especially if you lack self-control, it is a good idea to start and build up credit for yourself, which will help you get approved for loans and mortgages in the future.

Around the time I turned 18 years old, my mother suggested I open up a credit card. I decided to apply for a card at JCPenney - I was approved. To this day, I still have that credit card, and although I don’t really shop there anymore, I will never close it. One of the ways to keep your credit score high is to keep good, long-standing history - the longer you have a credit card open and make good payments, the better it is for your score.

My husband and I particularly like credit cards with points to spend at hotels. We use our acquired points from one of our credit cards to take a beach trip every summer. We stay at a Hilton at least two nights for free.

And when we go to Disney World next year, our points earned from that credit card will surely be beneficial in helping keep our expenses down.

Having credit cards is not a bad idea. Just make sure you manage your financial stability well and pay off balances every month.

Stacey Koch

editorial assistant

Whitehall-Coplay Press

Northampton Press

Catasauqua Press