| A lot of us know that credit card use may | | | | before they can get the gifts. So decide |
| lead you to bankruptcy, but how to turn this | | | | wisely before you redeem your points! |
| wealth destroyer into a wealth tool is | | | | |
| something worth investing time and effort to | | | | 4. Free Money Management Tool |
| learn and practice. So you can leverage on | | | | |
| this plastic card and turn it into a wealth | | | | At the end of each month, the credit card |
| tool. | | | | company will send you a total amount you |
| | | | swipe for the month, that make you easy to |
| Here are some powerful tips to turn this | | | | track you total expenditure, and it becomes a |
| little plastic a powerful wealth tool for | | | | free money management tool for you. |
| you: | | | | |
| | | | 5. Pay Off Your Full Outstanding Balances |
| 1. Choose Your Best Credit Card | | | | |
| | | | Monthly |
| Not all credit cards are created equal. There | | | | |
| is a particular credit card that will suit | | | | This is a very important rule, if you fail to |
| your needs. So when you apply for credit | | | | obey, your failure may lead you to |
| card(s), make sure you ask for their features | | | | bankruptcy. Never let your balances stay on |
| such as the interest rate (APR), annual fee | | | | your credit card bill statements for long and |
| and reward system. So you can fully make | | | | it may create a snowball effect on your debt. |
| good use of their benefits and avoid the | | | | This means that if you have accrued |
| penalty. | | | | balances for the month, pay them immediately. |
| | | | |
| Getting a credit card will provide you the | | | | Before you swipe your card, the first |
| particular features with rewards, services, | | | | question you need to ask is "can I pay this |
| redeemed points and interest rates that will | | | | off when the next bill come? " If your answer |
| suit your needs. For instance, if you want | | | | is yes, go ahead and swipe it, ask if you can |
| convenient shopping but can't afford to go | | | | enjoy any interest free automatic installment |
| the extra mile in shopping expenses, it is | | | | plan from any credit card(s) you have. If |
| best to get a credit card that can offer you | | | | yes, you may go ahead and use the card, if |
| with reasonable credit limits. | | | | not, perhaps you can call the bank and ask |
| | | | for it, so you can enjoy a 12 month or even |
| In this way, you will not be tempted to max | | | | 24 month interest free installment plan, |
| out your card and accumulate debts you simply | | | | without paying any extra money! |
| can't afford to pay. | | | | |
| | | | If your credit card(s) do not offer such |
| Some credits cards offer you automatic | | | | plan, negotiate with the merchant for an easy |
| installment plan, so whenever you make a | | | | payment scheme through credit card. |
| purchase over a certain amount, then the | | | | |
| credit card institution will bill you by | | | | 6. Be Wary On Cash Advances |
| installment, with 0% interest. Hence, you do | | | | |
| not have to pay it in lump sum, so you can | | | | If it isn't an emergency, never take cash |
| use this type of credit card when you need an | | | | advances on your credit card. Financial |
| interest free installment plan for some | | | | experts say that cash advances reap higher |
| purchase. | | | | interest rates immediately and have no grace |
| | | | period at all compared to the ones that you |
| 2. Go For The Lowest Interest Rate | | | | have on your credit card purchases, which is, |
| | | | by nature, soaring as well. In fact, a |
| If you think you can't pay your credit card | | | | financial expert told me every time she |
| bills on time but are willing to pay your | | | | receive the checks for cash advances, she |
| balances in another period, it is best to get | | | | just tear them off immediately, so she would |
| a credit card with lower interest rates. | | | | not even think of using the cash advances |
| | | | facilities. |
| Consumers may not be aware of this, but one | | | | |
| of the reasons why debts are getting higher | | | | 7. Ask for a lower rate |
| is based on the interest rates. The actual | | | | |
| balances are made worse through interest rate | | | | If you have been an obedient customer and pay |
| charges. | | | | your bill on time, it wouldn't hurt you to |
| | | | call your bank or your credit card issuer and |
| 3. Choose The Reward Credit Cards That Suits | | | | ask for a lower rate. |
| Your Lifestyle | | | | |
| | | | Surveys show that nearly 55% of those who |
| Each purchase you make on your credit card(s) | | | | participated in the survey were reported to |
| will earn you bonus point, which you can use | | | | have trimmed down their interest rates simply |
| to redeem free product and services like | | | | by requesting their bank or their credit card |
| extra-miles, retails and dining vouchers, | | | | companies to act accordingly. |
| saving you even more money. | | | | |
| | | | With lower interest rates, you can definitely |
| Don't get a credit card just because it can | | | | save more especially if you are the type of |
| provide you with several rewards. Not all | | | | credit card holder who doesn't get to pay the |
| rewards are worth your time and money. For | | | | balances on time. |
| instance, a flyer's rewards credit card may | | | | |
| not be functional if you aren't a frequent | | | | All of these things are catered to help you |
| traveler. But if you are, getting a flyer's | | | | cut back your expenses and save more on your |
| reward credit card can give you discounts as | | | | credit cards. These things have been proven |
| well as points that can be converted into | | | | effective. It is now up to you if you will |
| tickets. This will be savings considering the | | | | heed this advice or not. |
| prices of airline tickets nowadays. | | | | |
| | | | Just remember, your actions will always tell |
| Recently I found that the credit card | | | | you the kind of life you want to live, so |
| institutions have raised their required | | | | better make good choices and start saving |
| redeemed points for gift. In other words, | | | | now. |
| credit card users are expected to spend more | | | | |