Debt has recently replaced obesity as the number one concern of consumer advocates and politicians. Just as food companies have been vilified for wantonly distributing products full of sugar and fat, credit companies are seeing themselves under increasing fire for their underhanded tactics and wanton disregard for the public's financial safety.

Bills have recently been considered in the House of Representatives that would regulate how credit card companies can raise their interest rates, and how low they can set the minimum monthly payments. A major credit issuer was recent flogged by the public and consumer groups for raising rates on cardholders who pay their bills on time. It's these ridiculous practices that are finally raising the ire of politicians when it comes to credit card companies and banks.

This is just more bad news for banks, who are already caught up in the firestorm that is the mortgage and housing market fiasco, with their only recourse being to raise ATM fees, and ramping up other rates that affects everyone, whether they're timely with their payments or not.

This has created a prickly environment for banks, who have seen their once iconic status shrivel up into dust. Even the slightly misstep is now heavily chronicled and dissected, such as the Bank of America's recent decision to raise rates, which led to a Business Week article that opened with the tale of a 60 year old woman whose rates had nearly doubled despite her account being in good standing. Other banks like Chase and HSBC have seen similar reaction and articles to rate hikes of their own.

The increased watchfulness of politicians to this growing crisis is personified by presidential hopefuls Barack Obama and Hillary Clinton, who have both made credit card reform one of their primary campaign issues.

Despite this, credit card companies continue to soar, with ever-increasing networks which make it easier than ever for consumers to use their plastic at just about any outlet, and teaser rates and rewards programs accompanying massive ad campaigns to suck in new customers.

Debt on credit cards has become such a major issue that cosmetics giant Avon announced plans to have Suze Orman act as a personal financial adviser for any and all of their 500,000 sales reps.

With credit scores now easier to obtain, and the internet being the perfect breeding ground for discussion, more and more people are openly discussing their credit histories and possible steps they can take to minimize their current woes and eventually get out from under the mountain of climbing bills. The general consensus of course is to get rid of credit cards or loans of any type and take control of your own finances.

If there's one shining light for financial institutions in this mess, it's the smaller banks like Wachovia and Washington Mutual, whose focus on consumers and fair and more transparent rates has earned them the trust and loyalty of many customers. It's been shown that the things consumers hate most are rate hikes and hidden fees buried in small print, and these banks have taken advantage of that. Too bad they're still in the minority when it comes to offering the type of service and value we all deserve.

Rewards from credit card companies have been on the increase now for years, ever since the Discover Card first started offering cash back on credit card purchases. Air travel, cash back on purchases, cheap theater tickets, exotic vacations - they're all available as rewards, and there are reward credit cards that can help you earn them faster.

If you want to take advantage of a credit card that offers rewards, here are a few tips that you should remember:

* Do you pay the entire balance on your credit card every month? If you don't, then a reward card might not be right for you. If you maintain a balance on your credit card the interest that you pay each month may exceed the value of any rewards you might accrue. You should either get into the habit of paying the entire balance every month, or look instead for a low interest credit card to save money.

* Check the points. Know how much you need for a card reward before you commit on the card. For example the number of points needed for a round trip coach ticket varies across different credit cards. Make sure that you get the best deal that you can find.

* Check to see if points expire. While airlines have begun to offer their customers points that never expire, some credit cards still give you points that are use-it or lose-it. It may take you a long time to qualify for some of the higher point valued awards, so look for a card that offers points that don't expire.

* Know which purchases give you the biggest reward for the buck. Some purchases will net you more points than others, and some purchases might not net you any points at all. Many airline rewards cards offer point bonuses for purchases of air travel. Some American Express cards offer double points for purchases of gas and groceries. Make sure you understand the credit card agreement and pick one that will maximize your receipt of points given your spending habits.

* Pay your bills - with your rewards credit card. This is one fast way to acquire points fast. Many household bills can be paid with your credit card, and you can receive points back. Gas, heating oil, cable, groceries - the list goes on, but you get the idea. See how many of your household bills you can pay with your credit card. You can always immediately write a check for the same amount and mail it to your credit card company to cover the bill.

* Make sure you get a good sign-up bonus. Most rewards credit cards offer bonus points just for signing up and getting accepted. Usually the points are available after you make any purchase with the new card. Make sure you choose a rewards card that offers the most up-front points - you can often get close you your first reward just in bonus points!

With my big family, paying household bills allows me to qualify for credit card rewards once every two or three months. This is huge, because I go for air travel, and credit card awards afford me the opportunity to travel at times when I wouldn't if I had to purchase a ticket. For me, that's worth more than the money. Try it - optimize your rewards credit cards, use them whenever you can, and it'll work for you too.

A credit card is a convenient way to obtain credit. You can decide how much credit you want to use and then decide how much you want to repay each month. It is different from a debit card in that it does not remove money from the user's account after every transaction. In the case of credit cards, the issuer lends money to the consumer (or the user).

Credit cards are for all intents and purposes, revolving credit loans. They are the most common form of "open ended" or revolving credit. Most people have at least one credit card, and often many more than one. They are a widely accepted form of payment, making them extremely convenient to use. They are accepted in face-to-face transactions, as well as with online transactions.

Interest rates can be fixed or "variable rate"-the APR may change from time to time. The rate may be tied to another interest rate, such as the prime rate or the Treasury bill rate. Some secured credit cards are only partially secured. The customer my be required to put an amount as security deposit and the credit card issuer provides a credit limit that may be two or three times the amount of the deposit

Today there is less cash in the average consumers pocket, and more plastic than ever before. Most credit cards are the same shape and size, as specified by the ISO 7810 standard. The most common credit card size, known as ID-1, is 85.60. Citibank credit cards are some of the most popular credit cards in the world today.

Credit cards are also provide convenience, flexibility and the means to shop online. To maximize the benefits that credit cards can offer you, get as much information as you can. Visa is the number one credit card used by people around the world, and they offer exceptional convenience and reliability. Visa has unsurpassed acceptance in more than 150 countries, as well as at Internet merchants.

Many secured credit cards are only partially secured. The cardholder usually pays a certain amount of money and the credit card issuer provides a credit limit that may be two or three times the amount of the deposit. Nearly 700 million general-purpose credit cards are now in circulation in the U.S., according to the Nilson Report. The average American now has more than five credit cards, according to Celent Inc., a Boston-based research and consulting firm.

To obtain American Express Card or Diner's Club Card you must meet their qualification criteria. They Will need to verify your salary or income. Most of them have cut-off points below which they will not grant their cards. They will look at how long you have been at your current Job as well how long you have lived at your current address. Stability of your occupation-do people In your field get laid off quite often-are some of the criteria they use.

A credit card is a delicate tool because it carries a level of responsibility and financial acumen that not all consumers have. Using a credit card enables you to pay off the debt within the next month or making several payments over several months or years until the debt is fully paid. It facilitates the purchase of goods and services on credit. They are are issued to you based on your income and information on your credit report.

Even though so called financial experts may sometimes disagree, the fact remains that credit is not something that is inherently bad. The problem is not the credit itself but rather the improper or uncontrolled use of credit. If you find that you have this problem you should not feel like you are the only one. In fact, the country itself has this problem. When national bills cannot be paid, the country extends credit lines that it has with different financial institutions.

The problem with most credit card debt advice is that it is usually given by someone running around claiming that the sky is falling and not all the credit cards in the world can prop it up. What people need is some real world credit card debt advice and saying that you should avoid credit cards is not real world credit card debt advice, it is being unrealistic. Here is some real world credit card debt advice to help you out.

Limit Yourself to Just One

Some of the absolute best advice available related to credit card debt is to join a credit union if you have not done so already. Then, request a credit card from them that has a moderately sized credit limit.

The credit union won't raise your limit without you asking and for the most part a credit union will keep their interest rate at around 10% or less. If you can keep your life to just this one card then you will be fine. If you need an increase then ask for it but try and use cash when you can.

Use It As A Back Up

Everyone is going to get credit to buy that great stereo system, or whatever, at least once in their lives so warning against that is pointless. But if you can just use your credit as a back up and not as the main way you purchase goods and services then you will be much better off.

Make sure you have the necessary funds to pay for it when you give into the temptation to use your credit card to make a slightly irresponsible purchase. Remember, though, that you do not have a credit card to use that way. It's only for back up.

Out of control credit card debt isn't necessarily something that is the first to come to people's minds when they think about the things they fear. When it does happen, however, the person can feel as if this is the worst thing to ever happen to everyone - and that they are buried so far under their debt that they will never see the light of day again.

This isn't always true. You have many options available to you to try to fix the problem; credit card debt negotiation can be a viable option. Credit card debt negotiation takes the debt that you owe and either reduces the total amount or finds a way to make it easier to pay.

When a credit account goes to a collection agency, there generally is more room to create a plan for credit card debt negotiation. Generally speaking, this means that if you owe $4,000, the collection agency might be willing to work with you and take a lump-sum payment of $2,000. This benefits you and the company. The collection agency will finally receive money from you, the debtor, and you are helped by having less debt. Credit card debt negotiation plans can be a beneficial situation for both parties involved in the negotiation. Although there will be a small mark on your credit report for paying less than what is due, the effect is less than what it would be by leaving the debt unpaid or by having to declare bankruptcy.

What to Do

The best and typically cheapest way to tackle credit card debt negotiation is to call your creditors and explain your situation. Although some credit card companies or collection agencies will be unable or unwilling to work with you, you have a good chance that one - or even several - of your creditors will be willing to work with you. Also look into consolidating debt onto one credit card.

Even if you would love to see every creditor cut your debt in half, be aware that this probably will not happen. Having one or two reduce your debt will help you in your overall credit card debt negotiation goals.

If you feel too scared, shy, or are not sure that you are confident enough to contact your creditors, you should consider asking someone to help you. Several agencies are dedicated to helping people with credit card debt negotiation. These agencies may know tricks that you don't, and could make all the difference in getting a plan started. It doesn't hurt to call and ask for help. You don't have anything to lose, and these agencies could help you reduce your debt. Stay away from those agencies who charge you hundreds of dollars to help you. There's no guarantee for successful credit card debt negotiation, and you could lose a significant amount of money if the agency is not successful.

Amongst those who make New Year's resolutions, getting out of debt is a right up there with losing weight and quitting smoking. When a person owes a large amount of money, they have a weight on their shoulders that keeps them from moving forward. They don't just need to get out of debt; they need to stay out of debt. If this describes you, read on.

Analyze your Credit Reports, Negotiate with Creditors and Consider Consolidation.

Tackling your credit reports may seem daunting, but is the first step in the right direction. Credit reports often have faulty information. Go through your reports, and make sure the information is both correct and balanced within all three. All three credit reports should have the same information. If not - write to them and request they be corrected. Getting rid of old history (if bad) is another crucial step.

Try to settle smaller debt and lower your monthly payments. Offer what you can pay and not what the balance shows. Often, creditors will be happy to get what they can rather than lose all the money. Remember to get an agreement in writing before you send them money. When creditors give you a difficult time despite the fact that you are being proactive in avoiding bankruptcy, just step back and get ready for the next phase.

Loan consolidation is a valid option. Doing a loan consolidation with a new loan will require decent credit scores, so if your debt is beyond a certain ratio, or your scores are too low, you may need to consider the alternative - debt reduction plans. These consolidate all your credit cards, negotiate payment plans and interest rates with the creditors, and work on your behalf to lower your debt. They usually charge a small start up fee, and add a low monthly fee to remain in business. However, the benefit is you are still paying far less, both monthly and in the long run, to meet financial obligations.

Some find that taking second jobs, ridding the budget of unnecessary spending, and destroying credit cards can help get them back on the right track. If possible, pay more than the minimum amount due on the consolidation loan, as lower interest rate loans have longer payment terms. If you have tried all of the above and still find that making ends meet is impossible, your only choice may be a declaration of bankruptcy.

If you're like me you probably have a number of credit cards in your wallet - two or three at least. (Most Americans have more than that - read on.) When is the last time that you really took a look at the credit cards that you have? Are they working for you, or are you paying more interest than you have to? Are they tools that simplify your spending habits, or are they sapping hundreds of dollars from your budget needlessly? Check out these credit factoids - you may be surprised:

1) Today's average consumer has 13 credit obligations that the credit bureaus have on file. Nine of those are credit cards of some type - department store cards, Visa, gas cards. Four of those credit obligations are likely to be installment loans of some type.

2) The oldest credit obligation of the average consumer is fourteen years! Fourteen years of payment on an obligation indicates that the average individual has been managing credit for a long time - and hopefully well. Actually, very few people have short credit histories - only 5% of consumers.

3) $4,088 - that's the average amount of credit card debt among young adults who carry debt. That number increased by 55% between 1992 and 2001, which is an indication that debt growth among young Americans is mushrooming. A young adult with an average amount of credit card debt now spends twenty-four percent of her income on debt payment, and amount that is 4% higher than it was in 1992.

4) Approximately 75% of US families surveyed in 2004 had credit cards, and of that group 58% of them carried balances. The average American with a credit file is responsible for $16,635 in debt, excluding mortgages.

5) One in six families with credit cards pays only the minimum due every month. 28 percent of families surveyed indicate that their ability to pay off their credit card balance has become more difficult.

Startling figures! Apparently many of us are carrying balances on our credit cards, which can be expensive. By the way, the sources of those numbers include The Federal Reserve Bulletin, US News and World Report and Experion (credit agency) - reputable sources. Americans in particular and most people in general continue to carry a good bit of debt. Chances are they are not taking advantage of opportunities to optimize that debt. This is a simple thing to do in many cases, and it can be done from the comfort of your home. If your situation is similar to the average, it could save you hundreds or even thousands of dollars!

Significant savings in interest payments can be found in 0% Balance Transfer Credit Cards. By applying for a new credit card that offers 0% balance transfers, you can aggregate balances from other credit cards that are charging interest into an interest-free loan. This is a fantastic deal that can save you a lot of money over time! Depending on the outstanding balance of your current credit cards and the interest rates of those cards the savings in interest paid make it worth your while to move your money to a 0% balance transfer card. Let me give you an example: for every $1,000 in credit that you have outstanding on a credit card that charges 14% interest you will pay $140 dollars in the next year in interest alone. Many credit cards carry higher interest rates, and many people have balances that exceed one thousand dollars, so by moving that same debt into an interest-free position a great deal of money can be saved.

It's easy to apply for a 0% balance transfer credit card - application can be completed on-line and the approval rate is high (applicants usually already have credit products and hence sufficient credit for approval). Get into the habit of shopping for 0% credit every 12 to 15 months so that you can roll any outstanding balance into an interest-free position. Given the current financial climate we all need to find ways to save the money that we earn. Zero percent balance transfer credit cards are a free and easy way to do just that.

You pay your bill off completely every month. You pay the minimum due every month, and you let a manageable amount revolve on your credit card. You pay the minimum due every month and your credit cards hover near their maximums. These are all payment profiles, one of which probably fits most credit card users, and there are a number of different credit cards that are tailored to offer the best value for any one of these scenarios. Match the right card with your spending and payment habits and you maximize your savings. Fail to do so and you might spend hundreds or even thousands of dollars needlessly.

The credit card service industry is a very competitive market place today. Many difference incentives are offered to you by credit vendors in an effort to win your business. You're probably familiar with most of these: low interest, cash back rewards, zero percent balance transfers, award points, special cards with pretty pictures on them. Many people, me included, are bombarded weekly by credit card offers that come in the mail at an alarming rate. If you've chose a credit card from that selection, you've probably chosen the wrong one for your spending habits.

One thing that all credit card offers have in common is this: all offers must contain a Truth in Lending Disclosure - it is required by law. Whether you receive an offer of credit in email or regular mail, you should make a game out of reading the disclosure before discarding. Pay particular attention to the interest rate offered - they're usually high, and aren't even close to the best deal that you can get if you shop for credit cards. As a matter of fact, some of the interest rates are astronomically high!

If you look carefully you will find that most credit card offers that you receive focus their sales pitch on one of these four types of rewards: low interest, cash back, award points, 0% balance transfers. Furthermore, whatever area of their focus, they don't perform well in the other three and may actually be extremely predatory in one or more of those areas. Here are some tips you can use to make sure that you choose the right credit card for your payment and spending profile:

1) If you have a habit of paying the complete balance on your credit card every month, you shouldn't be too concerned about the interest rate on the card. However, don't discard interest rate completely! Pay special attention to the grace period that the credit card offers. The grace period is the amount of time between when you purchase something with the credit card and when they begin to charge interest on that charge. Some credit card companies begin to charge interest on the date of the purchase - others have a grace period that extends until the end of the calendar month, or for 30 days. A longer grace period will save you money. Beyond that, you might want to choose a card that offers reward points or, if you have balances on other credit cards that are charging interest, a card that offers 0% interest on balances transfers may be the choice for you.

2) If you keep a modest balance on your credit card (somewhere between 0% and 40% of the maximum amount of credit allowed) then you should keep a keen eye on the interest rate charged on that outstanding balance, but you may also want to look for a credit card that offers cash rewards for its use. This usage pattern is most common, and is actually the credit card usage pattern that favors your ability to build good credit; it shows creditors that you are capable of managing your balance and also makes you an attractive customer because you maintain a positive balance.

3) Don't depend on credit card marketing material that comes in the mail to help you find the best deal - shop for credit cards that offer the very lowest interest rate available, and the easiest way to do this by far is on line. If your credit cards are always max'd out - at or near their limits - then interest is everything. You should absolutely find the card with the lowest interest rate available. You might even choose to pay a small annual fee to secure a card with a lower interest rate than you might find with a fee-free credit card. With a low interest rate you can take control of the flow of interest that you pay on your outstanding balance.

4) In all cases, whether you maintain no balance on your credit cards or the maximum available, you need to be sure to make all payments on time and in the right amount. Many credit card vendors will increase your interest rate if you make payments late - it's in the Truth in Lending disclosure statement - and they do it without giving you any notice. Read your statement carefully every month to make sure that you know what you're paying.

The more you are informed as a consumer, the better your chances are to save some real money; this is true in all business and particularly true with credit cards. The amount of money that you can save by shopping for the right credit solution depends upon your spending habits and your payment schedule, but it can amount to hundreds or thousands of dollars per year. Be credit wise: adopt a habit of reviewing the credit cards in your wallet or purse once or twice a year, and always be on the lookout, shopping for better offers. Chances are that if you're using a credit card that you've had for over a year or two, you can save money - there are better deals out there.

Everyone needs a little guidance when it comes to financial matters and it also helps to have fact rather than opinion. Getting credit card debt facts can sometimes be hard to find but having credit card debt facts can help you better deal with your monthly debt and help you talk to your credit card companies should that need ever arise.

If you are armed with credit card debt facts then you can better lay out a plan for paying off that debt and maybe a little insight into credit card debt facts can help you eliminate your debt completely.

Minimum Monthly Payments: Insufficient Funds

In general, making the minimum monthly payment on you credit cards that the credit card company requires is not enough to effectively eliminate your credit card debt fast, since your minimum monthly payment mostly pays off the interest that is being charged to your account; it only affects the principal in a very slight way. The fact is that the credit card company would rather raise your limit and let you keep on the minimum monthly payment on a progressively larger and larger principal.

The credit card companies are in it for interest and service charge payments and as long as you are making those then you will always be a hit with the credit card companies. Just paying $10 a month more to your minimum payment will speed up the pay off process but what will really help is not using the card at all.

Interest Rates: Up for Negotiation

A lot of people do not realize this and a lot of people do not keep track of their interest payments every month either. Look at the interest rate on your next credit card bill and just see what it is. If you started a couple of years ago with a great rate from some bank at around 12% then chances are by now it is up and around 20%.

The credit card debt fact is that they don't have to ask you to raise your interest rate and they can, and do, allow an interest rate increase all the time. Call them up and tell them that if they do not lower the interest rate on your card then you are paying off the balance and moving to a different card. You have nothing to lose except several percentage points in interest payments.

College is the first taste of the real world that young people get while still being protected by something that looks out for them. Most young people move away to college and even though they are still being funded by mom and dad they are given the feeling of what it is like, for the first time, to not answer to someone for everything they do. That first feeling of independence is great but also very intimidating.

The allure of freedom is strong and soon some college students are faced with the temptation to get a credit card. Credit card companies offer credit cards to jobless college students because they are easy targets but you can help your child out with the battle of college students and credit card debt by heading the whole thing off before it gets out of control. If a student does not understand the explosive relationship between college students and credit card debt then they may make decisions that could follow them for many years into their adult lives.

In order to help your college aged children, start by educating them about why college students are especially susceptible to credit card debt. They also need to understand exactly what results they can expect to experience in the future if they get into credit card debt while they are still so young.

It can follow you for years and can even affect your ability to get your first real apartment or buy your first home. That relationship between college students and credit card debt can get so out of hand that they could be paying for it into their 30's and if they understand that then maybe you can help them avoid it.

Give Them A Helping Hand

A college student always needs access to funds and one way you can help offset the temptation of college students and credit card debt is to give your college student a credit card with a limit you can handle and tell them this is all the credit card they need.

If you choose to give your college aged children a credit card where you set the limit, you need to make sure that there will always be fund available to them on it. Doing this will also help you to know what they are using their credit card to pay for when you receive the statement each month.

All you can do is prepare them with some support and education. If they choose to do their own thing there really isn't anything you can do about it. But at least you can feel better knowing you tried everything a parent can do to help out with college students and credit card debt.