It has been three years since we had our first credit card. I want to share some lessons we learned from using it. But before that just a bit of a background. I was not in favor of using credit cards before. That’s the main reason why it took us so long to get one. My worst fear was getting in debt and getting hounded by creditors. Well, you can’t blame me really. I have heard of so many stories of people getting into credit card debt so deep that it took over their lives completely.
Anyway, after three years of using a credit card I think I can already give an advice particular to those who are thinking of getting one.
1. Pay all your dues every month. I can’t emphasize this enough. Don’t even think about paying just the minimum due. If you do this pretty soon you’ll find yourself buried in debt in no time.
2. You can have your annual fee waived by calling customer service. If you have some installment plan ongoing however, chances are your annual fee won’t be waived. So don’t get any installment plans when you’re nearing your annual fee payment.
3. Be meticulous in checking your credit card bill. You don’t want to pay for something you didn’t purchase.
4. Choose your credit card wisely. Analyze your spending and get a credit card that will give you the maximum reward. Do you use more on for groceries, medicines, fuel, or travel? Credit card companies have different types of cards that can fit different lifestyles. Also take in consideration how you are going to pay for your bill. Find out if you can pay on it online or through your mobile phone with just a click of a button. After all, you don’t want to go all the way to the bank or mall every time you have to pay your credit card bill.
Credit cards can actually make our lives more convenient so use it wisely. If you have misused it in the past you’ll have a low score in your credit rating in the future. You can seek the help of rmcn credit services to repair your credit if you have problems like these. But if you can’t be responsible with your credit card then it will be safer for you to use cash.