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Helpful Hints on Using Credit Cards
There are two sides to credit cards. They can be a boon for emergencies, and being able to pay the balance off every month makes for an advantageous privilege. However the very same credit cards can be a downright hellish experience if you don’t control how you use them.
Think twice before carrying balances as cards charge as much as 20% and more in interest in the name of finance charges.
Examine your statements very carefully and in case of any doubts get them clarified with the company right away.
Cash advances generally incur a huge finance charge with interest being charged from the moment the money is withdrawn instead of after the next statement closing.
Be careful about annual fees that many cards charge over $50 merely for the privilege of using the card.
Credit card offers in the mail promising low rates may have an expiry date after three to six months. So make sure you know from when and how much you’ll be charged on expiry of the introductory offer.
Avoid impulse purchases that you are not able to afford without the card.
If you fall behind in payments, it’s time to reduce recreational expenses. You could speak to the company for a repayment schedule that is convenient. Prepare a budget and stick to it. You may also consider credit counseling services to overcome debt. Credit card info.com reports:
Credit cards can be helpful in emergencies or if you are able to pay off the balance each month, but be wary! Credit cards can also get you into trouble. Here are some helpful hints on using credit cards:
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