4 Smart Tips to Using Credit Cards
Plastic money, which comes in form of credit cards, is really
loved and highly used. There is nothing you cannot purchase with one swipe of
the credit card. Credit companies make a multi billion dollars kill every year
on credit card users. This kill is made when they deduct their charges and when
they fine you for late payments, transfers and over-limits. However, a credit
card can be a good servant if used wisely but a bad master when used unwisely.
As a matter of fact, you can even get bonuses when you learn how to wisely use
your plastic. The following tips will be of great help to you.
1 There are many credit card companies to choose from; choose the
best. The best credit card you can have is one that has good rates of interest
and an open bonus system. Some credit cards usually have rewards for you, if
you use it wisely. The rewards range from cash back to college fees for your
kids. You can have a look at the customer reviews on a credit card before
choosing it to be your plastic. Such reviews will give you the best image of
the credit card, and the experiences of other customers will help you make the
right choice.
2 Avoid carrying
balances on your plastic. Credit card companies reward those who have a clean
record when it comes to having balances in their credit cards. Paying off the
balances usually relieves you of the burden of paying huge amounts of interest.
Make it your aim to pay off any balance in your credit card ever month.
3 Learn how to
communicate with your credit card company. When you have a balance that has
been forwarded to the next month, pick up your phone and talk to your credit
card company and see whether it is possible for the interest rate to be cut
down. However, you can only benefit from such a step if you have previously
kept a clean record of clearing balances with the company.
4 Avoid cash advances like plague. As a matter of fact, use cash
advances only when you are faced with an emergency and there is no other way
out. It is very easy to ask for a cash advance, because when you get it you
feel as if you have been given free money. However, such advances usually
attract heavy interests and charges when you delay payment.
Use these smart tips when you use credit cards and then you will
not feel them to be the monster that they are usually touted to be.
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