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 Each month in the mail you will receive a monthly credit balance statement if you have a balance with any credit card. With these monthly balance statements it is very important that you pay off the money owed in full  every month. By paying off the money in full every month you will be protecting your credit as well as your resources. By protecting your credit you are ensuring that your credit score will remain in good terms and the credit card companies are not reporting you to the credit bureau.

The credit card companies for the most part are not out to destroy your life or your credit. For the most part they are looking out to get their money and their investments back from the credit that you borrowed in the first place. By getting their money back they are keeping you happy by ensuring that you can borrow from them in the future and you are keeping them happy by returning the borrowed money. However, if you run into trouble with the credit card, there are some important things you can keep in mind. First of all, you can pay off your balance fully at a fraction of the cost most times.

This Financial Services article was written by Colby Almond on 5/12/2010

Colby Almond was a 2008 graduate from the University of North Carolina at Chapel Hill with degrees in Public Policy and Economics. He is currently the Director of Social Media for Virante INC