Use credit cards well to keep bad credit at bay

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 » Use credit cards well to keep bad credit at bay

Use credit cards well to keep bad credit at bay

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

"Having money to spend" is a slogan many of us live by. Particularly for the youth, this holds true. When you get your first credit card, you may be very tempted to exercise that freedom more than necessary. Spending and shopping to your heart’s content can be fun and using credit cards adds to your spending power. However, it is not the wisest thing to do, especially when you have to pay more than just the amount you spent eventually when paying it off. Consider credit cards to be a sort of privilege that must be exercised very carefully.

There are numerous credit cards available in the market. When using credit cards make sure you are spending using them only when you absolutely need to. Especially for large payments, unless you are absolutely sure you can pay it off do not use your credit card. There will be a lot of additional fees and the interest amounts will simply add up each month till your debt becomes unmanageable. In addition, if you are unable to pay it will take a toll on your credit scores as well.

When you receive a pre-approved credit card offer, do not immediately get excited and opt for it. These pre-approved offers are simply another means of marketing for the banks to draw in the unsuspecting folk. Don’t fall for the rewards and bargains. Make sure that when using credit cards, you know exactly what you are liable to pay. Check the annual fees on the card, how the interest rates are calculated and whether they will vary, the late fees and other financial charges applicable. Knowing how things work with your credit card will make you more careful about spending on it and paying off the amount every month.

Do not ever make the mistake of using credit cards as emergency fund. This is a sure ticket to debt. If you have to pay a pressing bill like at a hospital and have no other way out then go ahead, but otherwise, do think carefully before doing so. Consider going without whatever appliance you were planning to buy. Most of the time emergencies are not really what they seem to be once we take the time to rethink things. The more carefully you do it, the better you can use your credit card on various occasions. Use your credit cards well and be privy to good deals in future.

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:

Related Research:

Top 5 Secured Credit Cards: September 2020 – Experts’ Choice

Top 5 Secured Credit Cards: September 2020 – Experts’ Choice

Posted: June 22, 2020

The COVID-19 pandemic has made significant changes not only in people’s lives and their financial standing but also in the entire financial sector of the U.S. We have collected the best secured card offers from our partners so that you can… Continue reading

Top 5 Soft Pull Credit Cards: September 2020 – Experts’ Choice

Top 5 Soft Pull Credit Cards: September 2020 – Experts’ Choice

Posted: June 3, 2020

When applying for a credit card, you definitely don’t want your credit score to go down. Here, you will find the best credit cards with a soft pull from our partners. An application for such cards won’t make changes to your credit history… Continue reading

Top 5 Store Credit Cards: September 2020 – Experts’ Choice

Top 5 Store Credit Cards: September 2020 – Experts’ Choice

Posted: May 30, 2020

We evaluated store credit cards offered by our partners to find the best store credit cards. They are often loaded with perks that will allow you to save on purchases at your favorite retailer. Plus, many store credit cards are available… 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!