How to Increase Credit Card Debt

Most people would like to decrease their overall debt but continue to use the credit cards they have and even increase their credit limits. Using your credit cards more and obtaining new credit cards increases the credit card debt you already have.

Difficulty: Moderate

Instructions

1. Increase credit card debt when you increase your credit line. Many financial institutions give automatic increases on the credit cards they issue with the result that you can spend more on your credit cards without going over the limit. Often, consumers are not aware of the increase until they receive their statements.

2. Take out new credit cards. Many companies offer introductory teaser rates to entice consumers into taking their cards. Once you receive the card and use it, the rate goes to the same high interest rate as your existing cards, but you have increased your credit card debt.

3. Transfer your old balances to new credit cards to increase your overall credit card debt. Usually the new offer has a higher limit than the old card, so even with the transferred balance, you wind up with more credit card debt.

4. Open a department store credit card account to increase your credit card debt. The sales representative tells you if you use the department store card today, you will save 10 percent, but now you have another credit card and another line of credit you did not have previously.

5. Apply for gas credit cards to increase your credit card debt. It seems like a good idea because you will not have to carry cash with you to the gas pump, but this is one more credit card and line of credit you have to pay every month.