The problem with credit cards is not the actual existence of them. They are okay and can be used sporadically to great use. The problem is with how they are typically used. Credit cards earn a bad reputation for being financial pitfalls, but the pitfalls only happen when borrowers slip up in the method of how they borrow.
The problem also happens when there is too much to go around. To heal from deep credit card debt, borrowers need to understand that they have too much with too little. In other words, they have too high of a borrowing limit on their cards with too little money coming in.
The Credit Card Dilemma
Debt consolidation can put borrowers back on the right path by limiting their borrowing range. Some people may use the excuse of building their credit to borrow big and wide with multiple cards. It is more sensible for credit to have one or two cards that are healthy than five or more that are all used. There is also the element of restricting oneself for the sake of removing stress triggers.
The Debt Consolidation Rule of Thumb
Borrowers can begin to consolidate debt without having to file paperwork, trade debt to another source, or do any of those things which could be too cumbersome for their own good. The rule of thumb is to find the card with the lowest balance. Place the majority of attention on paying that card to zero. Once that card is gone, move extra finances to the next lowest until all the effort is placed on the largest card.
The cards can stay active. Having open credit is fine aside from some marginal usage and annual fees. It is the standard of consolidation. Having a few strong cards is valuable and useful. The problem with credit is in the borrower, as credit cards are short term loans that are often abused as licenses to spend more than what one is making. Borrowers going here in this direction can learn to organize their debt and consolidate it down to one or two distinctive sources of credit.