By Kendall Little

Credit card debt is a burden anytime — but it can be especially difficult during times of economic uncertainty.

As recession fears grow and Americans’ financial futures remain unclear, now is the time to get ahead of your credit card debt. In an economic downturn, your risk of taking on high-interest debt balances to cover costs can grow. At the same time, it becomes more difficult to pay down those debts. Recessions typically make lenders tighten their approval standards for loans and credit cards, and promotional 0% APR and balance transfer offers — usually helpful options for paying off existing debt — tend to dry up.

Story continues through Yahoo finance

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