credit card

Credit Card Surviving Guide

Credit cards make our life easier and can especially be a good option when you have an emergency. But you have to be careful when making purchases using a credit card, If not, we will prepare a survival guide that can help you.

Mistakes To Avoid When Using Credit Card | Surviving Guide

1.) Carrying balances

If you have an outstanding balance on your credit card, you will continue to incur more fees. Paying off debts or unexpected expenses is usually important to avoid emergencies inflicting chaos on your life.

2: Only paying the minimum amount

If you pay only the “minimum due” each month to your credit card and you pay no interest, the amount paid could be more than you expected.

If you pay only the minimum amount each month, you may need additional time to pay off the amount. This will increase the total cost of debt.

3 using all the available credit

The credit card statement will show you the amount of your “available credit.” The issue is that the moment you use all your “available credit” (even if you pay the majority of all of it every month), it affects your score.

The higher the proportion of your usage, the more it affects the score of your credit. There isn’t any magical threshold.

4. Not using it in any way

If you apply for a new credit card, ensure that you make use of it. This can help build a good credit score and maintain a good credit history.

5: Using an account balance as payment history

Buying a box of gum using your credit card each month and then paying it back is considered a positive payment history.

It is not necessary to pay creditors any interest on an unpaid balance to reap the benefits you’ll get in your credit score for maintaining a good credit history in your payments.

6 Take care to treat your credit card differently from other bills

Many people place their monthly charges (like the phone or cable invoice) on their credit cards. They do not want to forget to pay them, and they enjoy the peace of mind that they’re assured that they’re taken by the credit card company.

In the end, it’s just an additional thing to think about. Then, they consider the credit card bill as something else.

Your credit card bill is just like any other bill which must be paid. If you can remain on top of your other accounts by setting up automated payments, then you can follow the same procedure for the credit card.

It is recommended to set up auto-pay so that you don’t have to think that you have “available credit” as a justification to not pay any more than the minimum payments.


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