Hi,Be safe from credit card debt!
If you're going to use your credit card anyway, you might as well keep the following in mind, before that credit card swipe, wipes off some more your hard-earned cash:
- If you're already in debt then stop credit card debt by do not using e your credit cards on frivolous binges, expensive dinners or hyped up sales. Keep your credit hard handy for emergencies.
- Pay much more than the minimum balance due. This will help put on hold any reckless credit card usage and make you more responsible when using your credit card.
- If you're going in for a new credit card then make sure you go through the fine print - all of it - and do a credit card comparison on the Internet. Many credit cards offer an introductory low rate of interest and once that introductory period is over, the rate jumps.
- Pay off credit card debts with your bank savings. You're probably getting around 2-4% with the bank while you're paying 10-18% to your credit card company. Paying a high rate of interest doesn't make any sense.
- Take all your credit card statements and total up the outstanding balances. You'll be surprised to see just how much of money has gone to waste done the tube without you having received anything of value.
- Call up your credit card company and ask them for a lower rate of interest. Most credit card companies may oblige. If your credit card company doesn't, then transfer your balance to another credit card that charges a lower rate of interest.