Feb 21, 2017 03:59 PM
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(Updated Feb 21, 2017 04:08 PM)
Hello, Today, I am going to give some tips on credit card use. A credit card can be a very helpful financial tool. But if our spending gets out of control, monthly payments and accumulated interest can become a problem for us. I am using my credit card for last four years. I have not faced any problem with it. But some people can have many problem in using credit cards. By following this tips we can use our card carefully.
We should look for low-fee and low- interest.To illustrate, we should get a credit card with low annual fee and low interest rate and be sure to read your cardholder agreement.
We pay off our balance every month. We always make at least the minimum payment each month, but pay as much as we can each month. Whenever we can, we should pay off the entire balance. This will reduce our finance charges we pay.
We should use our card for needs, not wants. So, we should use our credit card carefully. Cards sould be used in emergency situations, such as a mobile phone bill that's due before your next payday.
We should stay under 30% of our total credit limit. That is a effective way to keep our credit card score healthy is to keep your credit utilization ratio under 30% .
