| Uncomplicated And Powerful Credit Card Tips |
| Written by Manny Prellie |
| Friday, 04 December 2009 09:15 |
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No matter how many times you hear "if you can't pay cash, don't buy it", we ignore it. Face it. We live in a world where we need credit cards. Rich people, poor people, smart people, and stupid people all need credit. The problem is that too many of us turn into "stupid people" when we misuse the credit we have. Let's talk about what are the best credit cards to have.
No matter how many times you hear "if you can't pay cash, don't buy it", we ignore it. Face it. We live in a world where we need credit cards. Rich people, poor people, smart people, and stupid people all need credit. The problem is that too many of us turn into "stupid people" when we misuse the credit we have. Let's talk about what are the best credit cards to have. The problem to try to avoid with credit cards, however, is to refrain from using them for small purchases. You should be able to pay for your gas, groceries, lunches, and other incidentals during the week. This is how credit card balances creep up on us and we suddenly find ourselves drowning in debt. When it comes to perhaps large purchases, credit is the way to go. Especially if you happen to be lucky enough to have a credit card with a high limit (that you can handle) and a low APR that hasn't been increased by your bank because of the credit crunch of late. If your credit and credit card remain pretty much what they were a year ago, you might be good to go. But, if you find that you need to make a fairly expensive purchase like maybe all new kitchen appliances, you should seriously consider apply for a card at the store you are buying from. Major retailers all over are competing for business and offering some incredible deals of perhaps 0% interest for a year or two. This is great - if you know you can pay it back on time. A bill for $5, 000 that you can pay over two years with no interest accumulating is really a good deal. Obviously they are hoping you don't pay off your purchase in the allotted timeframe simply because they'd love to tack on the usual APR which is about 22%. What does that mean? It means when you get your bill on month' and it's not paid in full the month before, you will see some whopping finance charges added on the bottom to the tune of hundreds of dollars - which is due with your next payment. You should also have a card you can use for tiny daily purchases in case you don't like carrying much cash. The trick is you need to pay off the balance each week so it doesn't add up. Preferably, do this online. It's fast and easy. In other words, if you spend $135 on "junk" during the week - lunch, newspapers, gas, coffee - then make a payment in that amount at the end of the week. About the Author: He enjoys writing about home improvement, education, and health topics. Visit his newest web site where he discusses crystal floor lamp, arch floor lamp. |