All you need to know about using credit cards

ADVERTISING DISCLOSURE

ADVERTISING DISCLOSURE:
Credit-Land.com is an independent, advertising-supported web site. Credit-Land.com receives compensation from most 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 » All you need to know about using credit cards

All you need to know about using credit cards


Updated: September 27, 2018

The content is accurate at the time of publication and is subject to change.

For those looking at maintaining a powerful credit rating, it does seem like having a credit card is more of a necessity than a luxury. Credit card is a great financial tool that should allow people to have an impressive monthly budget if used wisely. However, many consumers misuse these helpful tools. Credit cards are increasingly being abused as users see them as a small time loan or even free money. Here’s what should keep you grounded if you own a credit card or two.

Most importantly, users must remember to possess the money for what they would be charged every month on the credit card they are using. It isn’t advisable to have a credit card purchase for which you wouldn’t have the funds to pay off when the month is over. By clearing the balance every month, it keeps users away from additional interest and hence they don’t really need to pay more than what they are really purchasing.

When using credit cards, it is important to search for the one that includes good reward programs. Though most consumers ignore this factor when choosing a credit card, this is in fact an essential pointer to be considered. A credit card without any added perks is in fact as a good as a debit card, so why make purchases with the former and pile up interests and consequently a repayable amount? Cards with ‘cash back programs’ are beneficial too, especially for individuals who are known to pay the balance on their cards every month.

Finally, users must also maintain a record of their receipts when using credit cards. It definitely helps in the long run. While allowing consumers to keep a track of what purchases they’re making through their credit card, a review of these receipts also empowers them to have their monthly budget decided accordingly. Maintaining a receipt also decreases your chances of being surprised by a bill with a very large amount at the end of the month.

As a last step, consumers must also ensure that their bill is free from mistakes and errors in terms of both pending and due payments. This is important in order of having an accurate budget when using credit cards. Consumers must also be very upfront about storing their credit cards safely, especially when travelling. Maxing out your credit card limit should also be your last resort in usage.

Disclaimer: This editorial content is not provided or commissioned by the credit card issuer(s). Opinions expressed here are the author's alone, not those of the credit card issuer(s), and have not been reviewed, approved or otherwise endorsed by the credit card issuer(s). Reasonable efforts are made to present accurate information, however all information is presented without warranty. Consult a card's issuing bank for the terms & conditions.
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:

Autumn 2018: Best Rewards Credit Cards for Thanksgiving Shopping

Autumn 2018: Best Rewards Credit Cards for Thanksgiving Shopping

Posted: November 8, 2018

Thanksgiving is coming, and whether you are hosting a meal or coming as a guest, your spendings are going to accumulate faster than you can notice. A holiday feast is a costly matter – each year Americans spend around $50 on a Thanksgiving ... Continue reading
The Best Credit Card for Earning Cash: Discover it® Cash Back

The Best Credit Card for Earning Cash: Discover it® Cash Back

Posted: November 2, 2018

You’ll have hundreds of dollars in your pocket in no time because you’ll earn money back on every purchase you make with this card. There are no restrictions on the amount of cash back you can get, and Discover even matches every penny you ... Continue reading
Top 5 Cards for Travel from Our Partners: Autumn 2018 – Expert’s Choice

Top 5 Cards for Travel from Our Partners: Autumn 2018 – Expert’s Choice

Posted: October 10, 2018

Nights are drawing out, the wind is colder every day and you already feel the lightest breath of winter on your face - autumn is here. Holidays are over, kids are back to school and all you are left with are hefty holiday bills that you ... Continue reading
You've successfully subscribed!

Please specify the following:All these fields are optional

Your Credit History
Themes you are interested in:

By providing this information you help us make our news letters more useful and informative. Thank you!