Having a credit card can give you both advantages and disadvantages. If you are not careful and mindful of how you use it, it will definitely give you a lot of disadvantages and trouble that can haunt you for a long time. And you wouldn’t want to get yourself in that kind of situation. In this article, we will give you tips on how to become more cautious and responsible in using your credit card to make use of it to your advantage rather than the opposite.
It is indeed a lot of fun to have the means to buy whatever you want in just a swipe, but you should also think about the future or long term effect of it. You should learn how to use a credit card with caution before you go start looking for the best credit cards in the market and apply for one. That way, you know that you are prepared and that you will not lean the dark side.
So here are some tips to consider:
1. Avail the instalment 0% interest promo – one of the best advantages that you can get from having a credit card is the instalment programme that you can avail in different shops and stores partnered with your credit card company. It is perfect so you have enough time to pay for what you consumed in a lighter and convenient way for you and the best part is that there is no additional fee involved. That’s definitely a winner right there, and you must take advantage of it as much as possible.
- Pay in full – when paying the bills, you will see the minimum amount that you need to settle and the full amount you owe for that cycle. Well, it is very important that you pay the amount in full. Although you can pay smaller amount, it will incur extra charges on your next billing cycle, and the charges will just blow up. So you should be responsible enough to pay what you owe, and that’s exactly why it is best to avail the instalment programmes.
- Pay on time – next, you should also make sure that you pay your bills on time. If you do not want to experience any hassle in your future transactions, then you should always settle your dues on time or earlier.
- Use your credit card according to schedule – you should learn to control your usage of your card. Do not buy just about anything using your card because it will eventually result to a shocking monthly statement. The best that you can do is plan when and where to use it. For example, you have been planning to buy a new TV then use your card to buy one but then try to stop after that. You should learn to impose self-discipline when it comes to spending or swiping your card for that matter.
- Use your points – every purchase using your credit card accumulate points, and there is a corresponding reward for a certain number of points. Try to use it because you earned it.
Those are the tips that you should keep in mind once you have a credit card. Having one can indeed make your life a lot easier in terms of convenience of using it but you should also make sure that you will do your part of paying on time and in full to continue the advantages that you receive.