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Keeping Your Credit Cards Under Control

If you know how to use credit cards wisely, your credit rating will soar and your opportunities for more and greater credit will continue to expand. If you do not understand how to use your credit card wisely, it is time to learn and rebuild your credit status.

Credit cards are out there, available and fairly easy to obtain. But, is a credit card offer right for you? What are the ramifications of credit cards and do you know how to use credit cards wisely? The information below can help solve the credit card mystery.

Zero Balances Work Best – The best use of credit cards is as a convenience and a means to obtain rewards for purchases. Using a credit card effectively takes knowledge and discipline. The goal should always be to pay the full balance each month. This eliminates additional fees and all interest charges. A nice benefit of this practice is that you earn interest on the money needed to retire the full balance until the payment is made.

One Card at a Time – If you are struggling to pay your full balance but are still receiving offers for additional credit cards, consider the possibilities before taking on more debt. In most situations, it is better to establish a record of full pay balances before applying for another credit card. The time to get that additional credit card is when you know you can full pay your balance every month.

Know Your Due Date and Statement Date – To protect consumers, Federal Law requires banks to offer a grace period between your statement date and the date your bill is due. If you make purchases one day before your closing date, you have 21 days to pay the obligation before any interest is incurred.

Do You Know Your Travel Benefit – There are many benefits to using credit cards that are travel friendly. One benefit is that currency exchange rates are honored by most credit providers. If you charge a purchase in Paris, the exchange is automatically configured but the credit card provider. If you intend to travel abroad, be sure to contact your credit card provider, discuss your plans and learn all the benefits for which you are eligible.

Take the Big Bonus – If you are an aggressive buyer and intend to use your credit card for most purchases, be sure to acquire a card that offers generous rewards and a big signing bonus. The credit card industry is a competitive marketplace and you should shop for the very best card for your spending habits.

Many retailers offer cards with the opportunity to save 10% with an immediate application for a store card. That may not be the best deal on the table and can impact your future credit availability. Your goal is to acquire a card that offers serious incentive, not just credit. Being a smart shopper is a big part of knowing how to use your credit card wisely!

Insist on Fluid Customer Service

There are hundreds of credit card providers anxious to have your business. With that in mind, there is no reason to put up with unacceptable customer service.

If your provider is guilty of poor customer service, it may be time for a change. You may find you are a better shopper once you have a negative experience behind you. Get the best introductory offer you can find and you will receive great rewards and low interest.

Remember to evaluate your credit card provider’s performance on a regular basis. If you make timely payments and carry a zero balance or a low balance, you have leverage. Knowing how to use your credit card wisely mandates that you use your leverage to make good deals. Be sure to apply that strategy to finding the best credit card offer.