tips for using credit cards wisely

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Tips for using Credit cards wisely

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Post on 07-Nov-2014

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A guide on credit card usage and tips for everyone.

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Page 1: Tips for Using Credit Cards Wisely

Tips for using Credit cards wisely

Page 2: Tips for Using Credit Cards Wisely

Credit cards are must-haves in our fast-paced lives. However, it is a well-known fact that credit cards can be tricky and can prove to be a big nuisance, if not used sensibly!

Page 3: Tips for Using Credit Cards Wisely

Therefore presenting to you some basic steps to keep in mind while managing your credit card…..

Page 4: Tips for Using Credit Cards Wisely

Restrict the number of credit cards you hold:You do not need too many credit cards on your name. Having just one or two cards should be enough for you.

Go for the ones that don’t charge you annual fees.

Remember credit cards should always be used in conjunction with your debit cards.

Page 5: Tips for Using Credit Cards Wisely

Keep track of your spendingIt is utmost important that you do this.

It is always better to be in budget rather than over-spend and then repent!!!

Page 6: Tips for Using Credit Cards Wisely

Know your Statement Closing DateAlways keep a track on your credit card’s payment due date and pay on time.

The interest on credit cards is calculated on a daily basis but is charged on a monthly basis. Also, if you have more than one credit card, always pay off the one with the highest rate first.

Page 7: Tips for Using Credit Cards Wisely

Low credit limitMake sure you open a credit card account with a company that will provide you with the highest credit limit possible.

High credit limits, even if they are not used will add merit to your credit score and improve it.

Page 8: Tips for Using Credit Cards Wisely

Be cautious while transacting onlineThis holds true for all your transactions – whether it is through your Credit card or your debit card.

Always ensure that you are using a secure site.

Page 9: Tips for Using Credit Cards Wisely

Be very sure before you pay your billsYou should go through your monthly statements thoroughly to make sure all the charges were authorized for the correct amount and not subject to any unexpected fees.

You have every right to question your bank regarding any wrong billings.

Page 10: Tips for Using Credit Cards Wisely

Never withdraw cash from your credit cardsCash card withdrawals are subject to transaction charges as well as interest charges right from the day of your withdrawal.

Credit card companies charge too high an interest - it ranges between 24 to 48% per annum!!

Page 11: Tips for Using Credit Cards Wisely

Be cautious and disciplined regarding your credit card finances and surely this plastic money will become your best financial tool!

Page 12: Tips for Using Credit Cards Wisely

For more finance news and personal finance, please visit

http://www.bestpersonalfinancenews.com