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Credit card debt can drag you down into a pit of inescapable fees, high interest rates (over 30% interest rates are common) and high minimum monthly payments that do little or nothing to reduce the amount you owe. Avoiding credit card debt is vital to help you stay within your budget and dodge the shoals of bankruptcy, but avoiding keeping a credit card entirely can put you in a different kind of financial danger. Most of your credit score is based upon making timely and appropriate payments of your debts. In other words, unless you have some kind of debt (credit card, student loan, car loan, mortgage, and so on) your credit score will remain low because of lack of information. Having a low credit score can mean you have to pay more when you do take out loans. It may also hurt your chances of getting car or housing loans, and, because some employers now run credit checks as

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