Credit card debt is usually known as a bad debt, but it might help not to consider it as one. All debts are simply borrowed money that you need to pay back. The value of the money you borrowed comes down to what you purchased, how it helps you and the value of it in your life, not necessarily how much you paid or owe.

A good way to look at your debts or debt in general is to ask if the debt is helping you. When a debt helps you by supporting the opening of a business, continued education or in other ways, then it makes sense to take on that debt. However, when a debt doesn’t help you, then it makes less sense to spend money on something you don’t necessarily need.

Of course, taking on debt isn’t a solution for every financial mishap you come across, but it does serve a purpose. It can help you build up your credit score if you make payments on time, and when you have a low-interest or no-interest rate card, it gives you time to pay down a balance on something you need without having to pay everything at once.

To help yourself get the best deal on credit card debt payback rates, look for low interest rate cards with zero percent yearly interest rates. Look for cards with a low balance transfer fee if you intend to transfer debts from higher interest rate cards to the lower interest rate cards. Finally, only borrow what you truly need.

If you’re in over your head or have debt concerns that you’re not sure you can manage on your own, your attorney can help you look into several options. Some options may include bankruptcy, debt consolidation, foreclosure or other techniques of negotiating down your debts.

Source: NerdWallet, “Sean Talks Credit: Why You Should Stop Calling Credit Card Debt ‘Bad Debt’,” Sean McQuay, Feb. 16, 2017