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Are you a credit card junkie? What is the credit card junkie anyway? Let me put it like this, a credit card junkie is a person can not leave with one credit card alone. His or her desire to own several credit cards is so high that the board of the person is built to the max with several different credit cards ranging from prepaid credit cards, debit cards, and shop cards, balance transfer cards, too high interest credit cards, etc.

You probably wonder what is so bad about being a junkie of credit cards. It's simple! If you have a lot of credit cards in your wallet chances are you are also sold in debt. Credit card debt is a serious problem not just in Australia but in the world all that. Millions of people are suffering because they can't afford to repay their credit cards in full each and every month, therefore they attract huge interest rates which compound and end up creating a large debt too for each card you own. Unless you know how to handle several credit cards it is wise to stick with one card only.

Unless your income is in the hundreds of thousands of dollars you probably have a Visa card or a MasterCard. American Express cards are usually reserved for high income earners. The good thing is Visa and MasterCard are accepted by millions of merchants worldwide. This means that the one card in your wallet is sufficient enough for you at home, when you go shopping, when you travel, and for everything else where purchases are needed.

So if we should limit ourselves to the one credit card which card is best? This is a good question and one millions of consumers are asking themselves each and every day. Here is the thing, if you are currently using several credit cards and you are suffering from debt then it is advised that you consider a balance transfer card to reduce your debt faster. Once you get this paid off in full you can start afresh and with a bit of self monitoring you too can live a happy, debt free life without having to worry about paying your bills.

Having too many credit cards is the biggest problem and one of the major reasons why credit card debt is so high everywhere in the world. The fact is, it is far too easy to apply for a credit card these days in Australia and even young apprentices under 20 years of age can have their own card even if they don't earn sufficient money to repay for their purchases. This is where the problems starts.

The first step in eliminating excessive credit card debt is to get rid of all of your cards but one, or even better transfer all of your balances to a 0 balance transfer credit card to consolidate your debts. Once you have your new card be strict with yourself and refrain from buying stuff impulsively.