Credit/Debit Card Search

Be Money Minded with Credit Cards

By: Dylan Williams

It is so tempting to apply for credit cards when you are over 18 and in employment. Using them is so easy and the majority of stores and so on will accept them as payment for goods and services. With this in mind it is quite simple to see why so many people can get into debt by using their credit cards too much. So it really does pay to be money minded with your credit cards - but how do you do this successfully?

To start with you need to consider which purchases you will be making on your credit card. Some people think that it is totally acceptable to purchase their weekly groceries on their credit card and this is something they are used to. Unfortunately this is not a very money minded way of using credit cards at all. They should really only be used for purchases of larger items as this then allows you to spread the cost of a number of months. By constantly purchasing smaller items on a credit card you will soon follow up your credit limit and had very little to show for the thousands of dollars that you have spent on your credit card.

You also need to consider whether you should opt for a credit card gives you rewards or one that has a lower rate of interest. Whilst both of these types of credit card are very good choices some people benefit more from one than another. So spend a little time thinking about your needs and you will be able to decide which credit card is right for you.

Don’t be tempted to apply for credit cards simply because you know that you will be accepted for one of them. Far too many people make the mistake of getting credit cards just because they can and not because they have certain purchases in mind. Getting credit this way is a very easy route to getting yourself deeply into debt. So before you apply to credit cards take a long hard look at why you are applying to them. If you don’t have any real concrete reasons are doing so it is best not to apply.

If you are the type of person who is tempted to make impulse purchases it is sensible to leave your credit cards at home when you are going shopping. Only take one of your credit cards with you so you will be able to limit the amount of money that you spend. By taking several cards with you, you have more credit available to you instantly and this can be a very strong temptation for many people.

By understanding how to be money minded with your credit cards you will put yourself in a much better financial position. By all means use your card to make large purchases, but don’t fall into the trap of paying for everything on your credit card. Follow this advice and you will be very money minded when it comes to your credit cards.

Name: *
E-mail: *
Location (City, Country):
Comment: *
* - Required Fields.
Save information
Notify me


RSS Related Credit articles

Some Tips for Getting a Fee-Free Credit Card

Credit cards are expensive enough without lumping an annual fee on top of them. If your current credit card carries a hefty annual fee, chances are good that you can find a similar card that does not have that extra financial burden. While many credit cards do come with steep annual fees, there are many free-free alternatives out there as well. The key to getting one of those free cards is to do your homework and research those free options.

Is Debt Settlement Really Beneficial?

For people who are drowning in deep debt, they usually feel helpless and stressful. One of the financial options they may consider is debt settlement. It is a negotiation process between the debtors and creditors with the main purpose of reducing debts during financial crisis.

Signs Your Credit Report Is Awful - Three Devastating Credit Blemishes

How can you tell if your score is going to cost you a job... or a bank account, a car or even a place to live? In this article we are going to take a quick and insightful look at how to tell when you're credit is bad...and learning the EASIEST way to keep tabs on watching it go back up to boot! Curious to know more? Great... continue reading as we take a closer look below!

All credit articles ?

Follow Us: Twitter

Useful Credit Cards Tips »

Choose a card that matches your needs. Make sure that the credit card you use is the most suitable for your spending patterns. If using a card for extended credit and don't pay off the balance in full each month, choose a card with a lower rate. It may not offer any interest-free period, but the lower interest rate should save you more in the long run. If you use your card for the convenience of paying for everyday purchases such as petrol or groceries, try a credit or charge card with maximum interest-free days, then make sure you pay it off in full each month. This way you get the benefit of up to 62 interest-free days on purchases, as well as rewards, discounts and frequent flyer points. But watch the annual fees on rewards cards.

Easy to get Credit Cards Online Applications | About Us | Contact Us | Privacy Policy | How Credit Cards Work - Credit Articles