Tips On How To Manage Your Credit Card
We are so heavily dependent on credit cards today that many consumers no longer carry cash. People use their credit cards now to make the smallest of purchase imaginable, even at the breakfast counter.
The major benefit of a credit card gives us is the ability to purchase things without having to pay for them instantly. But there is also a major drawback.
It is understandable that some people can get into debt from the normal use of a credit card, but some go crazy, using their cards in an irresponsible manner and ending up with huge amounts of debt with high monthly payments they cannot afford.
The best thing that you can do is pay off your entire balance every single month. Because, when you have a balance on the card, it becomes way too easy to incur greater and greater amount of debt that can be impossible to pay off.
But since paying off your balance every month is not always practical, we need to be reminded from time to time of steps to take to manage our credit cards properly. Managing your credit cards properly is important for your financial well-being, while poorly managed credit accounts can lead to debt and financial hardship.
Wikihow.com has a four-part article on how to manage your credit card. Those who are interested can read it here: http://www.wikihow.com/Manage-Your-Credit-Cards
Recent Comments
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I can tell you, here in Singapore caring a card is a must.
My rule is everything below 200 Dollar will pay cash, above it I pay card. I only have 3 Credit cards and those are enough for me.
I use mainly my Titanium Centurion American Express card, as it has all the benefits and insurances in it when I need it. The service from them is really superb.
Thank you for the great advise!
In order not to put myself in bad situation with the bank and drown in debt, I don't use credit cards at all! I use a debt card, so if I have money I would do the purchase, if not I wouldn't, that's the best advise to avoid debt caused by credit cards.
And I'm fully satisfied :)
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The thing to watch out for also is not losing it while carrying it!
Yes. That's probably the most important one.