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Four Tips for Credit Card Users

<img src="credit card.jpg" alt="Credit Card" width="300" height="225">

Credit Card 101

Everyone knows about credit cards, but many people are unsure whether they should get a credit card, or how to go about using it responsibly. Financial experts and thought leaders also differ about the pros and cons of owning and using credit cards, but almost all admit that it mostly depends on the skills of the person using the credit card. If you have the right skills, therefore, a credit card can be of great help to you instead of being a hindrance. After you have applied for and received a credit card, there are some basic steps that you can follow to ensure that you make the best use of your card.

Four tips for using your credit card

  1. Take time to decide what to buy

Taking your time to decide what to buy on your card will ensure that you don’t make any impulse buys, but only buy what you really need.

  1. Don’t make everyday purchases

Make a point of not buying everyday purchases – like groceries – on credit by using the available credit on your card.

  1. Review your bank statements

Check the bank statement for your card every month (as well as for other cards you may have) to ensure that all the information is correct and that there are no unauthorised transactions.

  1. Be diligent with payments

Pay your credit card on time every month, just like your other bills. If, for some reason, you won’t be able to make a payment, let your bank know in advance that you will not be able to either make the payment or pay the full amount.

If you have the correct skills to manage your card, it can be a boon to have and can make your life a lot easier if you use it correctly. You can also get financial advice at your local bank, should you be unsure of anything.


Forbes.com. Credit Card Basics: Everything You Should Know by Luke Landes.

About.com. Dos and Don’ts Of Using Credit Cards Wisely by LaToya Irby.