April 27, 2012

Credit Card Tips

I used to own a lot of credit cards.  I accepted each and every card I get from each and every bank that would give me pre-approved cards. And I felt such a millionaire that I bought lots of useless things and just swiped it all.  Then came the bills that brought me crashing back to reality: I was drowning in debt! After that, I surrendered all my credit cards and I am still paying off some of them until now.  If  I had my wits with me then and I didn't get so excited about what I thought was free cash, I wouldn't be in this situation right now.  I should have read about proper usage and credit card tips the moment I had my hands on them!  Now, I only use my friend's credit card so that I am sure to pay it on time and only for very important stuff.  And for those of you who are new to using credit cards, I would like to share some of these tips:

1. Keep your credit cards at home and bring it only if you really need it.
2. If you really to buy something with your credit card, check for freebies and other offers.  That way you get to save some money.
3. Pay it off in full on time. Saves you from a lot of finance charges.
4. If you need to buy something, check for installments that offers zero interest. Easier on the pocket.
5. Keep only 2 cards at the most.

So happy responsible spending to all of  you!

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