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The Rules on Using Credit Cards

By Suzy Vanstrusen

Republish: EasyPublish™
Published: 22Dec2009
Word count: 498
Viewed: 716 time(s)

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How you use your credit cards (CC) play a big role in staying away from debt problems. Some of the steps on the correct use of CC's are pretty obvious however, putting them into practice is where the challenge comes in. In this article, we'll discuss some important reminders about you can use your credit cards wisely and keep that plastic money from causing trouble in your life.

Don't charge everything on your credit card. Some people with reward CC's may reason that charging every single purchase on their card enables them to rack up those reward points more quickly. But charging every single expense on your credit card puts you at risk of not being able to pay off your monthly balance completely.

Do not charge more than what you can afford to pay off. Again, your goal should be to pay off your balances in full at the end of each billing cycle. Don't be tempted to pay only the minimum payment even if your credit card allows it. Remember that paying off your balances each month enables you to save a great deal by not incurring the interest rate.

Do not use your CC to pay other debts. It is not advisable to use your credit cards in paying other creditors because of the fact that you can incur expensive interest rates on your charges. Find other means to pay off your creditors but don't charge it on your credit card as much as possible.

Keep track of your credit card use. Are you really aware of where and when you use your credit cards? What kind of purchases do you use your credit card for? Do you take the time to review your credit card statement of account each month? Are you sure that all the charges included in your account are valid? Are there unauthorized charges? As a card holder, never overlook this very important step.

Always pay before the due date. Late payments will cost you additional fees such as the interest rate and penalty charges. Late payment also damages your credit history. Add to this, late payments can also cost your interest rates with your other creditors to increase. Yes, if your credit card includes the "Universal Clause" in the agreement, your other creditors can also penalize you for being late with your credit card payment. The best way to stay out of credit card debt and to maintain an excellent credit is to always submit your payment before your due date.

Think ten times before making a big purchase. Most card holders use their cards for large purchases. But before buying anything and charging it to your card, consider your decision carefully. Do you really need to make that purchase? Is it really that important to you? Would it be better for you to delay your purchase, save your money first and pay for the purchase in cash instead? This way, you don't have to worry about interest rate charges.

Suzy Vanstrusen is a credit analyst and a writer of the website http://www.ezcreditrepairsolutions.com and has been providing consumers with tips and tricks in repairing your credit. Check the site for more free credit repair solutions and credit repair services.

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