For anyone struggling with high credit card debt, the prospect of wiping the slate by settling the debt for pennies on the dollar may seem like a dream come true. However, as many consumers discover the hard way, debt settlement often is not the best option.

As more criminals wake up to the advantages of cybercrime over old-fashioned bank robberies and brick-and-mortar burglaries, credit and debit card skimming is becoming increasingly common.

Despite rising security efforts, internet credit card fraud remains a leading threat. According to experts, the cost of cyber crime to the global economy may soon reach $1 trillion in losses – and the cost to the U.S. alone is estimated at nearly $8 billion.

If you have bad credit, one way to increase your credit score can be to take out a credit card for people with bad credit. Bad credit credit cards come with many pros and cons, however. The pro is that when used correctly, they can help improve your credit score. The con is that they start you out with a low credit limit and charge you high fees for the privilege.

Many people new to credit cards find their monthly statement confusing. The back of the statement is usually filled with fine print written in a 27th grade language-as some people like to put it. Just as bad, the statement itself contains lots of abbreviations and confusing terms, which most new card users don’t necessarily know the meaning of.