It is true that in the world of Debt Management Plan a credit card can be a life saver. But unfortunately it is also true that it can be the source to a big headache. People believe that credit cards can get them time until they find a job in case they don’t have one or until they receive their holiday bonuses, which in fact can be also true. The situation gets out f control when we involve more than one credit card to the game. Having two credit card can be expensive because you need to pay interest in both sides. In the same way a late payment fee will be charged in both cards if you pay late in both cards.
So the most logical Debt Management Plan solution is to avoid having to cards. If you are offered a second card is very likely that you still have a good credit score in the system, therefore a banks is willing to take the risk of lending you money. Having this into account you can ask for a rate on your current credit card. You can do this by just calling by phone. Remember that you will be able to do this if you still have a good credit profile. If you are looking for a raise that goes beyond 30 percent of your actual credit line then you will need to submit documentation that prove that your income has increased per month. If you don’t have another choice then you will take the second credit card.
Keep in mind than playing the game of using one credit card to buy another one will only buy you some months until you can put your finance back in track and look for a cheaper option to get out of trouble.