Credit cards can make your day to day life much easier or totally miserable. It all depends on how you use your cards. Here are some tips on using credit cards intelligently. I learned them the hard and tough way. They were also adviced to me by my family and friends. I wish your experience with credit cards hasn’t been an unenthusiastic one! Share these tips with others who might like to benefit from them.
Make use of credit cards for urgent situations only. If you make your everyday purchases with a credit card, it will only result in reaching your credit limit soon. It may be difficult for you to use your credit card on urgent situations only. I understand it is alluring to use your credit cards for enjoying things on holidays. It’s really easy to become indebted when you buy large numbers of presents for the family.
Pay back more than the minimum payable every month. When you pay only the required minimum amount, it becomes difficult to get the full amount due paid off. If you delay in paying your credit card dues in full, you will only end up paying more in the end. Interest is charged on existing amount and this is a monthly incidence. If you pay off your credit card dues soon, you need to pay only less.
Always maintain your credit limit low. It will only be tempting to spend more and more when you have a high credit limit. If you pay your monthly payments in time then some companies are ready to raise your credit limit. At times, it will be double the existing amount. When you aren’t certain that you can manage this sudden increase, you can contact the company and request them to keep it at the lowest amount.