Like most things, there are 2 sides to a coin when it comes to possessing a credit card.
Sure, it's easy because you don't have to bring cash around, but if you're not careful, you could up nights worrying about how to get rid of credit card debt.
To make sure you reap all the gains, and none of the pains, below are credit card dos and don'ts that may help.
Dos
Sure, it's easy because you don't have to bring cash around, but if you're not careful, you could up nights worrying about how to get rid of credit card debt.
To make sure you reap all the gains, and none of the pains, below are credit card dos and don'ts that may help.
Dos
- Shop around for the best deals.
Look for ones that offer low interest rates along with various fees you need to pay to get a card.
Choose one with a combination that works for you. - Always keep track of what you're spending, that is how to get rid of credit debt.
The more you're aware of where your "money" is going to, the wiser your purchase decisions will be. - As soon as you get your card bill, pay.
And remember to pay more than the minimum amount you're allowed.
- Making a habit of using your credit to make everyday purchases like food and gas is a definite mistake.
For purchases such as this, use cash instead. - It's easy to think that because of your credit limit, you can afford to buy things you don't need.
Do not do this.
Understand that every time you're using your credit, you're actually borrowing money.
Your credit limits is more often than not more than your pay check.
So, really, if you don't have the cash to pay for it now, that means you can't afford it. - It's a bad idea to max out your credit.
Not only is that a danger in itself, credit card companies will also charge you a fee when you've reached your credit limit on top of it.