Things To Avoid While Using Your Credit Card

Advertising Disclosure

Credit-Land.com is an independent, advertising-supported web site. Credit-Land.com receives compensation from many credit card issuers whose offers appear on our site. Compensation from our advertising partners impacts how and where their products appear on our site, including, for example, the order in which they may appear within review lists. Credit-Land.com has not reviewed all available credit card offers in the marketplace.

Credit Card Applications » Research » Guides » Cardholder Benefits » Things To Avoid While Using Your Credit Card

Things To Avoid While Using Your Credit Card

Add to Favorites:

Though credit cards play an important role in each of our lives, helping us financially in most aspects, most of us do not know how to use them right which is the reason for people to get neck deep in debt. You can put your card to use effectively and establish a good credit rating through the usage of your card if you keep a few simple things in mind. Let us take a look at a few situations when you should refrain from using your card.

First of all, remember that credit cards are not for everyday use. Learn to use cash to purchase your daily requirements. Do not use it at gas stations, clothing stores and restaurants. It is important to remember that this plastic object is not a substitute for cash. Reach out to your debit card for your everyday needs and reach out of your credit cards only for specific purposes like online purchases for which you cannot pay by cash.

Most of the people use their cards liberally; however, when it comes to repaying their dues, they pay only the minimum amount. If you consistently resort to doing this, you will only take ages to clear off even a small debt. Hence, refrain from paying just the minimum dues and increase your payments whenever possible so you can clear off your credit card debt soon.

Don't buy things that are beyond your reach just because you have a credit card handy. This is one of the main reasons for people to get into huge debts. Leading a lavish lifestyle when you cannot afford it just because you have these plastic objects on hand can prove to very disastrous. Learn to live without your income and use credit cards only in case of emergencies or for objects you cannot do without.

Finally, don't assume that closing your card when you have reached the available limit is the best way out. In fact, this can impact your credit score adversely. Never close cards that have heavy dues on them. You can either opt for balance transfer on another card or pay off the entire amount due by cash before you close the card. Remember, a wrong decision on your part can leave you without any card for a long time.

Effective credit card management is a must if you want to establish a healthy financial lifestyle. It may take some compromises from your end, but, it will surely be worth it!

All rates and fees, and other terms and conditions of the products mentioned in this article/post are actual as of the last update date but are subject to change. See the current products’ Terms & Conditions on the issuing banks' websites.
Add to Favorites:
Get the latest news, articles and expert advice delivered to your inbox. It's FREE.

Related Research:

How to Subdue Wedding Expenses and Earn up to $1,000 for Honeymoon

How to Subdue Wedding Expenses and Earn up to $1,000 for Honeymoon

Posted: June 21, 2017

Whether you are married or not, we all agree that marriage is incredibly important for a person. It signifies the beginning of two people as a team, as a family, of a long commitment. It is a newly born union and the sign of your choice, ... Continue reading
How To Choose The Best Credit Card For Everyday Spending

How To Choose The Best Credit Card For Everyday Spending

Posted: June 21, 2017

When you reach for your wallet to pay for groceries, gas, dinner out, or any other everyday purchase, are you searching for cash, a debit card, or a credit card? Many people hesitate to charge this type of everyday spending to a credit ... Continue reading
How to Save Money. Best Credit Card Deals and Tips.

How to Save Money. Best Credit Card Deals and Tips.

Posted: June 20, 2017

We all've been through or may find ourselves in such an emergency when money is needed immediately. Lucky you are if you have savings for unexpected expenses. If not, it's never too late to start saving money. There are different ways to ... Continue reading