Article Side

Online Article Directory!

Hello Guest! Login or Register to submit articles!

7 Ways to Manage Your Credit Cards Effectively

By Sandra Parker Subscribe to RSS | December 26th 2011 | Views:
loading
 
  



Credit card has brought about some drastic changes in today's market. As credit card make the lending process much easier and the lenders don't need to repay the loan amount immediately, more and more consumers prefer plastic money over cash. However, the excessive use of credit card indulges in impulse purchases and consumers fall into the traps of credit card debts. If you are looking forward to live without the fear of credit card debt, you must learn how to use credit card responsibly. Read on the following ways which can help you make the most use of your credit card, without getting into credit card debt.

1. Your first and foremost duty is to select your credit card wisely. It's difficult to resist the temptation of accepting multiple cards, especially when credit card companies keep bombarding your mailbox with alluring credit card offers. Make sure you conduct an extensive research before accepting your credit cards. You must take into account factors like the interest rates, credit card fees and incentive features before getting the credit card.

2. Now your next step is to limit the amount of cards that you are using. A number of people are there who use only one card. You can keep some backup cards for emergencies as well. But remember, having more than two cards could be hazardous to your credit.

3. Make sure you are the only one to you access your credit account. If a number of people using your credit, make it a selected few. Check whether the person is trustworthy and knows whether he or she can use that card responsibly. Try not to include anyone but your spouse to add to your account, because anybody else can be damaging.

4. Most significantly, know your credit limit well and make sure you never go over it. Be certain that you do not max out your cards, because you have to pay multiple fees if you do so.

5. Make it a habit that you pay off the balance right away. The best way to pay back your credit cards is pay back your balance as soon as you can, so that you will have nothing to worry about later. In case you cannot afford to pay off your balance right away, pay off as much as you can, because it's always preferable to pay off the minimum balance than nothing at all.

6. Keep a track of your credit card bills each month. In case you fail to recognize a payment, take immediate action. You will have to take care of it all by yourself as many credit card companies have different ways of processing these claims, and you should stay aware of them.

7. Assess your credit card usage neutrally after completion of a year. Make sure you remain updated of the way you are using the cards and all activity that is being done to your account. Immediately close down the accounts of any cards that you are not using anymore. Cut up as many cards as possible and use cash and debit card instead.

Last but not the least, stay extra cautious while using your cards online. If you are disgusted by credit card debt the aforementioned points can help you bring your financial life back in track.

Sandra Parker - About Author:
Sandra Parker is associated with savedude.com as a financial writer. She writes on personal finance and offers advice on such issues like money saving, credit card.

Share on Facebook Tweet It Stumbleupon this post This post is delicious !

Article Source:
http://www.articleside.com/finance-articles/7-ways-to-manage-your-credit-cards-effectively.htm

Related Finance Articles Subscribe to RSS

Credit card debt Relief- There is Hope of Relief Yet
Published by James Blee on December 22nd 2011 | Finance
Some people after receiving their credit cards do not know how to use them wisely. As they are easy ...
 
Apply for credit card online and increase your liquidity
Published by John Matthew on December 28th 2011 | Finance
Credit card is one entity that has made millionaires out of the ordinary men, but at the same time t...
 
Merchant Account processing type Merchant debit and Merchant credit card processing
Published by Eric Hannelius on January 18th 2012 | Finance
When you are doing the business your main focus is onto customers’ service provided to them so tha...
 
Getting settlement when it comes to credit card
Published by Rajkumar Kaushal on June 19th 2012 | Finance
Getting settlement when it comes to credit card is not very easy sometimes because of the details an...
 
If you accept Visa and MasterCard you can get Bad credit small business loans
Published by Joseph Richard on April 4th 2012 | Finance
Despite it being a popular means of finance, there are several business operators who are unsure of ...
 
What exactly is PAN card? What are it's benefits?
Published by Ema Sis on February 17th 2012 | Finance
PAN card can be an identification number issued with the Government of India under the Income Tax Ac...
 
The importance of paying your credit card from Sears in time
Published by Alex Decosta on December 20th 2011 | Finance
One of the leading credit card companies, Sears has had a massive list of defectors based on its une...
 
Free credit report no fee: know your financial standing
Published by Alice Marlen on May 25th 2012 | Finance
When you request for an extension of credit, loan or credit card, the promising credit grantor will ...
 
Christian credit counseling and credit counseling services
Published by James Blee on December 14th 2011 | Finance
This recession has been very tough for people who have especially taken loans against their credit c...
 
Get an absolute idea before opting for business credit loans
Published by Macrobusinesscapital@gmail.com on January 15th 2012 | Finance
The growing world and the rapid increase in the technology have completely changed the life of human...
 
Welcome Finance Loans- Unsecured credit for helpful Roadmap
Published by Mark Fulton on January 26th 2012 | Finance
Welcome finance loans explicit information about finding it out may not be simple but we have gather...
 
Understanding Christian and credit card debt settlement organizations
Published by Julia Roger on December 14th 2011 | Finance
With increasing debts among the majority of the population, people have started to seek professional...
 
License of subprime credit broker revoked by OFT
Published by Sandra Jeux on March 12th 2012 | Finance
The licenses of sub-prime broker Yes Loans and two associates, i.e., Blue Sky Personal Finance and M...
 
No credit Check Loans: Easy Cash, Impaired Credit No Matter
Published by Amarjeet Singh on July 11th 2012 | Finance
No credit check loans are a kind of finance programs which the people of Canada look for. No credit ...
 
Loans for Bad Credit People: Weak credit is no more a trouble
Published by Ella Trant on June 8th 2012 | Finance
People with bad credits can realize their urgent monetary needs with loans for bad credit people wit...
 
Top tips for money management and using a credit card
Published by Jesse Wallace on June 6th 2012 | Finance

Learning how to use your credit card effectively could help you balance and manage your debts....
 
Same day loans no credit check - fight with the devils of financial crisis
Published by Sam Hopkins on December 3rd 2011 | Finance
Same day loans no credit check provide instant funds to an individual without looking into their pas...
 
Primary reasons to get a credit card processor online
Published by Neal on February 9th 2012 | Finance
There are countless advantages of having a merchant account or payment processor beside you. In this...
 
Hard Money Loan No Teletrack- Grab loan with no credit checking
Published by Gorgie Nork on January 9th 2012 | Finance
Hard Money Loan No Teletrack can be availed with the aid of simple online process. This loan is usef...
 
Student loan default might cause bad credit record
Published by Peter Paul on December 22nd 2011 | Finance
Student loan default is a very common problem that is seen globally. Student loans in default should...