Learn the best tricks when it comes to using credit cards
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Learn the best tricks when it comes to using credit cards

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People have a lot of different credit cards to choose from in the market and many a time picking one that suits you best can be a complex affair. When using credit cards you should always understand that it is a complex affair and has its advantages and disadvantages. You cannot consider credit to be extra spending money or emergency fund; it is one of the basic rules to remember. Credit is an unsecured loan and before you start using it extensively you should know thoroughly what fees should be paid, how you can spend carefully on it and what you should avoid to not incur costly fees on it.

Look at different offers

There are a number of cards available in the market and often different cards offer different deals. Do not think that credit cards can be substituted for cash, as much as possible pay by cash and use your credit card for convenience sake and pay off the amount immediately. Ordinary and daily purchases should be dealt with in cash or using a debit card so as to not add up large principal amounts and interests at the end of it. Make minimum payments every month on your credit card and also know well your monthly due dates when using credit cards. Many people do not realize this easily and find it difficult to pay monthly amounts with the interest rate and close the balance. However pay whatever you can and what is within your means rather than leaving a large bulk amount adding up every month.

Pay minimum balances

When you use your credit card frequently, also make regular payments every now and then. Making more than the minimum payments is a wise idea to cut down on the debts that have added up on the credit card. You cannot live a lifestyle that is beyond your means, what you can't afford leave aside and pay for what you can. Many people make a drastic mistake of living beyond what is affordable for them and end up with extremely high costs and bills that is not easy to sort out. Know how closing a card will affect your credit score. If a card has been with you since the beginning, then make sure that you do not close the account suddenly as it will damage your credit score. Also do not close off cards that make up the larger chunk of available credit history for you.

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