Question: What should someone in credit card trouble do to bring down their balance? 

Answer: First and foremost, stop using the card or cards. Put them in a drawer or cut them up if that is the only way to get your spending under control. 

Develop a plan. Put yourself on a strict budget. Monitor your spending habits (and those of your partner if you share your card). Evaluate every purchase twice. When making the purchase, ask ‘Do I need this?’ ‘Can I afford this?’ and again when you review your monthly bill, ask ‘Did I really need this?’ or ‘Do I need to modify my behavior?’ 

Often we spend because of peer pressure. Recognize and resist. Learn the art of polite refusal. If you cannot control your spending, cut up the cards and go to a limiting budget. 

Q: What are some credit card pay-down strategies? 

A: Restructure your debt. Talk to your bank or credit union about a debt consolidation loan. This type of loan is likely to carry a lower rate than credit cards and will require regular payments. This disciplines you to pay this off rather than increasing your debt. 

Some cards offer teaser rates for rolling over your balance, but one must be careful. Often, although there is a three- to 15-month window of low or no interest, there may be a transfer fee that cancels the benefit. Read the fine print. If you paid a 3 percent transfer fee to transfer $3,000 and then paid the balance off with 0 percent interest over 12 months, you have actually paid around 5 percent interest. 

Once in credit card debt, you have little leverage to bargain for a lower annual rate. The best way to improve your rate is to clean up your credit record. 

Q: What are some tips to help keep credit clean? 

A: Always pay on time. Set up an email or text reminder. Set up an automatic minimum payment (but be sure the money is available for the minimum payment). Always pay at least the minimum payment. Better yet, pay off the balance every month. Pay as much as you can. Put payment of credit bills ahead of any discretionary spending. Never charge over 80 percent of your credit limit. Using above 80 percent of your limit can lower your credit rating.

Don’t shuffle debt. Pay it off. Shopping for credit can lower your credit score. Never use your credit card for a cash advance. You will pay a fee, a higher interest rate, and interest will be charged from the time you take the advance. 

Q: Can you negotiate your annual percentage rate? 

A: If you have a good credit record, you can negotiate your APR. You should always try. 

Q: What else should people be cautious of when owning a credit card? 

A: Be careful with whom you share your credit. If something is charged by an authorized user of your card, you are responsible for it even if you didn’t authorize that particular purchase. Think carefully before you put your boyfriend, girlfriend, child or significant other on your credit card. 

If you share your account with someone else, jointly review and discuss the use of the account on a regular basis. It is easier to prevent problems than to fix them. Read your statement and information. Credit card companies must disclose what will cause your rates to increase, what will trigger fees, how they will charge interest. But you have to read the information.

One last piece of advice: If you have teenagers, go over the credit card disclosure statement with them. It is good for them to learn early how to wisely use their credit cards. Credit cards are powerful tools. Used well they can be advantageous. Used poorly, they can do tremendous damage.