Knowing well about the credit card arithmetic is key to keeping credit card debts under control New credit card users are most prone to uncontrolled debts due to their inability to control the excitement of the newfound apparent financial freedom.  Let us take the case of Michael, a college student who has a job to fund his studies and do not need the support of parents.  On receiving the credit card, he perceived it as an opportunity to indulge in spending whenever he wished. The initial excitement led him to keep spending to fulfill wishes that kept on cropping up almost incessantly. It became difficult to keep the wishes under…