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Credit Card eZine - News and Articles about Credit Cards

Credit Card eZine - News and Articles about Credit Cards

Get even more information on credit cards? Read our Credit Card eZine. The section is regularly updated by our specialists. Learn all the financial tricks. Know the pitfalls and hidden bonuses. Find out how to transfer balances and accumulate points. We will tell you about the latest offers on the market.Get your credit card education and make the most out of your plastic.

The 4 Best Tips From Credit Card Experts

[August 24th, 2017]

If you are new to credit cards, or even if you aren’t, you might wonder if there is more to using them than meets the eye. While using a credit card is easy and fairly self-explanatory – pay for a purchase with the card, pay off the charges when the bill comes – there is actually more to know about using them effectively and responsibly.

Here are four tips from top credit card experts, that will help you make the best use of your credit card, whether it’s a balance transfer card, a cash back card, or a travel rewards credit card.

1. Always make your payments on time. Experts agree that this is the number one thing you must do if you have a credit card. Never miss a payment, or your credit score can be negatively affected before you know it. Even if you can only pay the minimum, pay it. Don’t skip a payment or pay late, ever.

2. Don’t spend more than you can afford. A credit card isn’t a license to spend money you don’t have. This is a quick way to get into debt over your head, so be sure you are going to be able to pay off your card comfortably before you swipe or tap it at the register. If you have a 0% APR, you can make a payment plan to pay your purchases off over time, but you should still keep your spending within a reasonable limit.

3. Earn money before you spend it. If you have a child, make sure they have a job before you give them a credit card. This will help them learn to use credit responsibly, and not get into debt later. Too many parents hand their kids a credit card when they go off to college, when their child has never even earned any money of their own. Working and earning a paycheck will give them a sense of fiscal responsibility.

4. Remember that every credit card transaction is a loan. You will have to pay back every dollar that you spend on your card, so don’t go crazy spending money just because you have a piece of plastic that makes it easy. If you have a rewards credit card, it’s like getting free money – but only if you don’t rack up debt that accrues interest. Keep your spending responsible and you will reap the rewards.

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