One of the most important things to remember when using your credit card is that you are taking out a loan to buy an item. If you can purchase it with cash or your debit card, do so. You will save money in the long run on interest and possibly fees.
It is also important to understand that credit card marketers are extremely savvy and you must read the fine print and the terms and conditions carefully. Make decisions that are right for you and your financial situation. While having the status of a special credit card may be nice, if you can’t afford it or if it costs you lots of money each year, decide if it is right or practical for you.
If you have no credit history or a poor credit history, don’t jump at the first offer you find, be patient and pick products that are best for you. Many creditors may try to take advantage of your situation by offering you higher priced services or have cards with much higher interest rates.
If you are thinking about transferring a balance from one credit card to another, make sure that in the long run you come out ahead, beware of high transfer fees, introductory offers that end in six months and higher interest rates.
Just use common sense in aquiring and using credit cards and you will be fine.
He is the owner of several financial websites including those dealing with Using Credit Cards
