Debt Free In 30

Is the thought of maxed-out credit cards keeping you up at night? This guide unpacks the pitfalls of credit card debt and offers clear strategies to break free from the cycle. Doug Hoyes and Ted Michalos discuss why your credit utilization rate matters, how many credit cards you should really have, the pros (but mostly cons) of opening new credit accounts, and the best options when you’re in a pinch. (1:45) – What’s the problem with maxing out your credit cards? (4:00) – How a credit card should be used (cash substitute vs. borrowing tool) (5:00) – Credit limit, available credit, and utilization rate – what’s the difference? (7:00) – Strategies for a maxed-out situation: Short-term fixes that work. (8:45) – Taking out additional credit cards: A double-edged sword. (11:15) – Should you have one or two credit cards? More? (14:30) – Signs your financial situation is serious: When to seek help. (16:15) – Practical advice for maxed-out cards (19:30) – The downside of debt consolidation loans (2