I currently have no credit cards and no debit cards and its causing me such an issue. I had two debit cards but currently have none; both of them are getting replaced but one will be sooner rather than later. It's a pain right now to have no cards; I can't pay bills without them and I'm stuck. But hopefully my new card will arrive in a few days, and then I can go back to life as normal. So this post from a reader on responsible credit card use is very timely, since I'm sorely missing mine now.
At the present time, most people who are functioning in the job market are most likely to have a credit card. It comes in handy in times of need when you need to make an urgent payment, or when you need to purchase something online, or even at the end of the month, where you may have run out of hard cash.
There isn’t a country in the world that has banks that don’t provide credit card services. Especially in developing countries. If we take Norway as an example, where the payment system for most transactions is automized for convenience. People who use credit cards, or what is referred to as a kredittkort in their native language, they are made aware of all the benefits and uses that having a credit card has to offer and usually their banks are informative. It’s important to understand how they work, and how you can make it work to your benefit. There’s a fine line between where having a credit card can be a curse or a blessing, and this is why it’s so important that we all understand how we should be using our credit cards in order not to drown in a deep sea of debt.
This is why we’re going to go over 7 different and helpful ways in which you can utilize your credit card wisely.
DON’T HAVE TOO MANY CARDS
It’s not like there is a precise number of cards that make the rule of how many you should or shouldn’t have, it really is all about how good you are at managing their expenses. That’s why it is just a wiser and more practical decision to make to have about 2 or 3 at the most. You have to make sure that you don’t max these cards out because this will affect your credit rating in a negative way.
USE IN CASE OF EMERGENCIES
Try to make it a habit to only turn to your credit card when the need arises. Don’t make it a habit to make it your primary source of spending because this is how the expenses can get out of hand and the risk of debt comes in.
TRY TO KEEP THE ACCOUNT OPEN & ACTIVE
Don’t think that just because you’ve decided to open a new account and get a new card that it’s a good idea to close your older ones or forget about them. Keeping your old accounts active is a great idea because they give you a good credit history and may just come in handy at any given time. Just be sure to use them every once in a while to keep them active so that you don’t forget that you have it.
LOOK FOR REWARD BASED CREDIT CARDS
Look out for cards that offer good rewards based on points collected every time you spend. Keep your receipts and also keep track of your spending because this way you can utilize some pretty great discounts as a couple of places, and even earn air miles.
GO OVER THE MINIMUM PAY REQUIRED
It would be a lie if we can all say that we’re always able to pay off our debts on time, completely. But that doesn’t mean there isn’t a smart way to go about it until you are able to. You need to make sure that you always pay at least over the minimum payment required otherwise this will affect the amount you will need to pay as time passes.
NEGOTIATE FOR LOWER RATES
It’s no secret that different and competing banks are always on the prowl to get a new client, that’s why every month, without fail, you get calls from them, trying to give you offers you can’t refuse. What you can do with that info is you can call your existing credit card provider and try to negotiate a deal, after letting them know what you’ve been offered.
ALWAYS PAY YOUR BILLS ON TIME
This may seem like simple and straightforward advice, and you should definitely stick to it. This is the smartest thing you can do because if you don’t, your bills will pile up and you will certainly be in debt.
If you keep the tips provided above at the back of your head when you use your credit card or whenever you get bills to pay, you will be able to actually enjoy all the great things that a credit card has in store for you. Just be sure to be aware of your spending patterns, stay updated on new offers and rewards, and always pay your bills.
See my disclaimer.
At the present time, most people who are functioning in the job market are most likely to have a credit card. It comes in handy in times of need when you need to make an urgent payment, or when you need to purchase something online, or even at the end of the month, where you may have run out of hard cash.
 |
| Source: https://cdn.pixabay.com/photo/2017/03/07/23/34/wallet-2125548_960_720.jpg |
This is why we’re going to go over 7 different and helpful ways in which you can utilize your credit card wisely.
DON’T HAVE TOO MANY CARDS
It’s not like there is a precise number of cards that make the rule of how many you should or shouldn’t have, it really is all about how good you are at managing their expenses. That’s why it is just a wiser and more practical decision to make to have about 2 or 3 at the most. You have to make sure that you don’t max these cards out because this will affect your credit rating in a negative way.
USE IN CASE OF EMERGENCIES
Try to make it a habit to only turn to your credit card when the need arises. Don’t make it a habit to make it your primary source of spending because this is how the expenses can get out of hand and the risk of debt comes in.
 |
| Source: https://cdn.pixabay.com/photo/2015/10/30/11/06/wallet-1013789_960_720.jpg |
Don’t think that just because you’ve decided to open a new account and get a new card that it’s a good idea to close your older ones or forget about them. Keeping your old accounts active is a great idea because they give you a good credit history and may just come in handy at any given time. Just be sure to use them every once in a while to keep them active so that you don’t forget that you have it.
LOOK FOR REWARD BASED CREDIT CARDS
Look out for cards that offer good rewards based on points collected every time you spend. Keep your receipts and also keep track of your spending because this way you can utilize some pretty great discounts as a couple of places, and even earn air miles.
GO OVER THE MINIMUM PAY REQUIRED
It would be a lie if we can all say that we’re always able to pay off our debts on time, completely. But that doesn’t mean there isn’t a smart way to go about it until you are able to. You need to make sure that you always pay at least over the minimum payment required otherwise this will affect the amount you will need to pay as time passes.
NEGOTIATE FOR LOWER RATES
It’s no secret that different and competing banks are always on the prowl to get a new client, that’s why every month, without fail, you get calls from them, trying to give you offers you can’t refuse. What you can do with that info is you can call your existing credit card provider and try to negotiate a deal, after letting them know what you’ve been offered.
ALWAYS PAY YOUR BILLS ON TIME
This may seem like simple and straightforward advice, and you should definitely stick to it. This is the smartest thing you can do because if you don’t, your bills will pile up and you will certainly be in debt.
If you keep the tips provided above at the back of your head when you use your credit card or whenever you get bills to pay, you will be able to actually enjoy all the great things that a credit card has in store for you. Just be sure to be aware of your spending patterns, stay updated on new offers and rewards, and always pay your bills.
See my disclaimer.