While the advent of credit cards has greatly eased and enhanced the lives of shoppers and consumers around the world, it has also proved to be a curse for many who use the credit cards carelessly and end up building huge debt. Like every other thing on this planet, it is necessary that credit cards be used with care and intelligence so that one can reap their benefits for longer period of time and enjoy the most desirable shopping experience throughout life.
Following are some amazing tips that can help you make the most of your credit card(s) without ending yourself up in trouble.
Don’t apply for too many credit cards
While it’s strongly advised that you don’t opt for more than two credit cards, make sure you definitely don’t exceed four. More credit cards means you’ll be more tempted to spend and will face greater trouble later on. So keep fewer options in your purse and reduce the risk of ending yourself up in credit card trouble.Also if you have too many credit cards, it’s looked upon as your heavy dependency on credit which doesn’t give a good impression and can cause you trouble when applying for loans.
Prepare a set of rules for yourself and strictly abide by them
Nobody knows your shopping habits and weaknesses more than you. Hence before you apply for a credit card, analyse your shopping urges and habits well to make sure you know what you might end up doing once you have a credit card in hand. Once you’re done analysing your shopping habits, make a well-defined set of rules which will help you use your credit card wisely and will keep you from turning careless. Also let a friend or a close family member know of these rules and ask them to give you a punishment every time you break a rule. A sense of accountability can help you follow the rules better.
Pay the credit card bills on time
This is surely the best tip cum advice. Most credit card companies offer an interest free period, during which if you pay your bills you don’t have to pay any interest. Try to make regular monthly bill payments during this interest free period so that you don’t have to pay any interest and your credit history stays impressive. This might seem difficult at times but if you’ll keep doing it, your spending will stay accordingly balanced and you will be able to enjoy your credit card experience much more.
Use debit cards and cash for most purchases
Set a minimum threshold, the amount below which you won’t use your credit card. Carry some cash and your debit card always so you can make most of your purchases with the cash or the debit card and can avoid using the credit card. For instance if you set the threshold of $20 then that means that you won’t buy anything under $20 using your creditRead more Forbrukslån Norge (Credit buddy)
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