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Research: Staying out of debt while availing credit card rewards -

As a consumer and a shopper, you are always fond of gaining something of your interest for free especially while using your credit card. Credit card rewards are not easily earned. You have to spend a lot to earn enough points to redeem for an item or service. While spending more for your points, you have to be cautious not to overspend and protect yourself from staying out of debt.

Here are some ways you can do to help you gain credit card rewards but not let you go into debt.

1. You have to pay only what you can afford even if you are using your credit card. You have to make sure you have the money to pay the credit card charges when you're bill come in. You can check the reward program for items or services you purchase on line.

2. You have to pay your balances on time and pay it in full to avoid higher interest rates on late payments. If you carry a balance, you might pay more than the worth of the reward you'll gain from using your credit card.

3. You must not go over your credit limit even if you can afford it. Going beyond you credit limit causes your interest to increase. Instead of having savings, you have to pay additional fees for extending beyond your credit limit.

4. You need to check you're billing statements for errors so you don't have to pay for disputed amounts. There might be some charges in your bills that you didn't buy or a delivery charge of something that you didn't receive.

5. You can ask for your credit reports to be delivered every quarter. Although your credit card company will ask payment for your credit reports, checking on it also help you monitor your points.

6. You can check the reward program for items or services you purchase on line. This way you can save up for something, especially for a vacation plan, that you want to pay using your credit card.

Even if you get more credit card rewards but it's not worth the debt you have to pay, you have to learn to control your use of your credit card. Credit card rewards are only rewarding if they do not rule your spending habits. If you have to spend $1,000 for a $500 item, then think hard before swiping that card is that purchase worth it?

Don't get deceived by rewards that credit card companies offer. You have to avail only what you need and not what you want. This simply means that you have to know how the reward will benefit you for a long time and just a short term satisfaction. Weigh in every benefit that you'll receive and compare it with your capacity and capability to pay for the concurrent charges.

Repairing your debt is much harder than earning points. You can accumulate a big number of credit card points in a year's time, but repairing a debt might take you more than a year especially when you haven't done it at the earliest time.