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