6 Cool iPhone Apps for Controlling Credit and Debt

While most personal finance apps out there help you stay frugal and keep up with your banking, the six we list below are specifically credit- and debt-related. Read on for apps that help you pay down debt, protect you from identity theft, and even occasionally rescue your credit card from the dinner bill.

#1 - Credit Card Debt

Despite the unsavory name, this app actually helps you track and reduce your debt, not rack up more. Credit Card Debt shows you your overall debt situation, and tracks your progress as you pay it down. The fact that it calculates your credit utilization (or the amount of debt you have compared to your limits) is a cool bonus. A low utilization rate is key to a good credit score, and Credit Card Debt is a handy way to see how you’re doing.

This app is perfect for those who just want a simple and clear picture of all of their debts.

#2 - Pay Off Debt

Like Credit Card Debt, this app shows you how much you owe to each of your creditors. But Pay Off Debt takes it a step further by helping you pay down your debt faster. It serves up a game plan for tackling the cards with the highest interest rate or the lowest balance first, or some combination of the two. You tell it when you want to be debt-free, and it tells what you need to do to get there.

This app is perfect for those who have several credit lines and loan balances they are actively trying to pay down, and need a payment schedule laid out for them to help them stay on track.

#3 - Trap a Thief

I love that this app turns its users into stealth vigilantes. Basically, if someone steals your iPhone, the thief will be lured by an icon labeled "Credit Cards." As the thief is looking through what he thinks are legitimate credit card numbers, you’re receiving an e-mail with his exact location.

This app is perfect for those who literally cannot breathe unless their iPhone is within a two foot radius, and are willing to go to great lengths to retrieve their digital best friend.

#4 - SafeWallet

While the best place to store all of your various passwords and login information is in your head, sometimes that’s just not realistic. The SafeWallet iPhone app gives you a secure place to store banking passwords and online login information. If your iPhone is stolen, the SafeWallet is protected with a master password, so choose something really tricky that an ID thief can't easily crack.

This app is perfect for people who have a bazillion online accounts, and are looking for a way to keep their login information handy but also secure.

#5 - Receipts

This app is equally useful for debit, credit, and cash spending. It’s on this list because it not only helps you keep track of your spending, but also provides a digital record you can check your credit card statement against to ensure accuracy. Enter receipts and even snap photos of them to easily organize and track business and personal expenses. 

This app is perfect for those who travel frequently, especially for business. Also useful for those who hate storing all those paper receipts and would rather have a digital and photographic record of them for reference.

#6 - Credit Card Roulette

Want to skip out on the bill? Yeah, there's an app for that. This one is pure fun, or pure genius, or perhaps a little bit of both. The next time you’re out at a restaurant with friends, open this app to randomly pick one of the diners to foot the bill on their credit card. Will your credit card get off scot-free, or will it take a big hit?

This app is perfect for those who want to turn that awkward moment when the bill arrives into a game that lets all but one off the hook.

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