Your Way Of Using Credit Cards Determine It A Good Friend Or Silent Killer

By Author: Sharon
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Some people said that credit cards are silent killers.

Many people who own credit cards usually amassed far too much debt. They use their credit cards to buy almost anything available in the market without caring whether they need them or the bill they will receive a month later.

More people like shopping online, which is convenient indeed. Paying for products they buy through PayPal or other online payment methods make people not aware of how much money they have used.

But credit card, if you use it very carefully, you will find it has all the advantages in the world. But you don't have to own too many cards-only 2 credit cards at a maximum-Master and Visa are enough.

Now let's take a look at how to use credit cards wisely.

1.Plan your purchase properly.
Make a plan before you start your purchase. Make sure what you really need, and then plan and budget your needs will help you prioritize the things you want to buy and have bought, which will also allow you to control your debts.

2.DO Not overuse your credit card.
Some products allow people to adopt payment by installments. ...
... It makes the product affordable by dividing it into several parts. Credit card is best suited for buying something that you really need it right now, but it is quite expensive to pay for using cash.

3.Keep some cash around, and pay for small stuffs with cash.
It wouldn't hurt to spend some dollars if you are paying for a few office supplies, or a few plates, trays, and kitchenware. Some companies charge extra fees for exceeding the maximum number of transactions allowed for your credit card. Just make sure that you still have enough cash for other out of pocket payments.

4.Learn carefully about the card's payment terms, and remember the interest rates, penalties, and payment periods involved when using credit card. It will help you in making plan and budget your payment. And it will force you to try to use the card much more wisely.

Besides, if you think a certain credit card is not economic as the other one, you can change it. If you think that you are spending wisely, and you use the credit card only for emergency purposes or pre-determined situations, yet it is still difficult to pay for your card expenses, chances are your credit card isn't the right one for you. You have to restructure your credit terms with the credit card company if it is possible. If not, change your credit card to the type that suits you.

5. If you've lost track of your purchase using your credit card, stop using your credit card, or just cancel it. When you find you really have to pay for something using your credit card, and it result in a debt, just stop using your credit card to pay for more things. Paying for a debt by creating another debt should not be a smart way of using money.

Credit cards can be much useful friends of us. In fact, it is not the credit card that should be considered as a silent killer, but your way of spending money. We cannot expect a person who likes squandering money to use his credit cards wisely without having too much debt.

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