Dealing with changes in credit card debt accounts

Credit card debt is an issue facing many consumers who are having problems with their personal finances.

And it doesn’t seem to be getting any easier as card companies try to change credit card accounts before new rules take effect in February. However, a recent report from Reuters notes there are a few things consumers can do when trying to navigate the negative credit card debt landscape.

One thing consumers should definitely do is try and pay off their balances. Having a high balance reduces a person’s ability to try and negotiate with credit card companies if they change the stipulations of an account.

“Redouble your efforts to get your balances to zero as soon as possible,” the Reuters story noted.

Furthermore, if a consumer does get a notice from their card company about negative changes to an account, people should make sure to call their card company and complain, though they should try to do so politely.

Of course, it may get to a point that the consumer wants to cancel the card because they can’t handle the new stipulations presented. However, card holders should keep in mind that cancelling a card can have an effect on their credit score.