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

Finance for worst credit sanctioned within a day of filling
Published by Ross Sorin on March 2nd 2012 | Finance
Online financial aid is available for bad creditors through which they can get easy cash without fac...
 
Prepaid credit cards help you in rebuilding your imperfect credit
Published by John Cena on January 11th 2012 | Finance
Prepaid credit cards are same as other plastic cards and prove to be helpful people to refurnish the...
 
With online research you can loan about car loan with bad credit
Published by Pamela Andersen on May 16th 2012 | Finance
The online auto financing is easy way of saving time and money as well as not compromising on the ra...
 
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...
 
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...
 
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...
 
Benefits of using business lines of credit
Published by Kemar Roach on June 12th 2012 | Finance
Small business line of credit is a kind of financing that is offered by a lot of business banks and ...
 
Instant loans with bad credit: Cash facility with poor creditors
Published by Calvien Peter on December 5th 2011 | Finance
These finances are the best way to get the fast cash. Applicant can avail fast cash without pledging...
 
Where can I get the best rate credit cards - at the bank or online?
Published by Jesse Wallace on June 6th 2012 | Finance

Applying for a credit card online can sometimes offer better rates than in high street banks....
 
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...
 
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 ...
 
Unsecured loan information : Advantages for the all types of credit scorer
Published by Mark Fulton on April 12th 2012 | Finance
Unsecured loan Information are normally a personal loan and are ideal for individual who need money ...
 
Loan Calculator- What you require to recognize about a credit sum calculator
Published by Ian Foster on January 27th 2012 | Finance
Loan Calculator have lots of abundant websites on the internet that make available to their visits w...
 
What best practices are available for me to boost my credit rating?
Published by Jesse Wallace on June 6th 2012 | Finance
Improving your credit rating can be the best way to get discounted rates on credit cards and loans....
 
Why hire a credit card debt management company?
Published by Yossi A on January 12th 2012 | Finance
As a matter of fact, it not only clears your already existing debt but also offer valuable technique...
 
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...
 
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...
 
What's the difference between the purchase, balance transfer, and cash withdrawal rates on credit cards?
Published by Jesse Wallace on July 11th 2012 | Finance
Understanding the various rates offered by your credit card could help you get the most from your pu...
 
How can i get dependable credit card debt advice and exactly how could it benefit me?
Published by on March 27th 2012 | Finance
Credit card debt advice is a program provided by debt companies to help those people who are battlin...
 
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...