Are you considering applying for your very first credit card, dear friend? You are about to step on a long, joyful road of balancing between debt and fortune. Brace yourselves as the road is dark and filled with dangers. Dangers of temptation, poor choices, and terrible fees for credit card usage.
If you are a novice in terms of credit card choices, it is well advised to consider assistance from additional services. Feel free to look for credit cards on Effectify for the best result as this web app is designed to explain the differences between both the plastic as well as banking plans behind it.
That noted, there is still a handful of tips I have to offer. Check them out!
Your budget is not limitless
Credit cards tend to empower. You have the vast availability of goods and services available to you. With these plastic things, you don’t get the feeling of bills leaving your hands, and you don’t have the feeling of loss. Pure shopping frenzy delight can (and probably will) blind the eyes of even the most responsible of us.
This is why it’s important to know one’s limits and never go beyond them. A simple purchase may not seem like a big deal now, but it will be a pain in the back once billing time and you have to pay for it paired with commission. Just establish a credit limit in advance, just in case. This way you won’t have to deal with any trouble later on.
Pay the full price
Make every payment in full and on time. This way you will rid yourself of the necessity of paying the commission. Why is it important? Especially, given a lot of people are only covering commission fees on a regular basis and are pretty fine with it.
Well, simply because commission does not cover your debt. You can pay it for years in a row and you won’t be getting anywhere close to getting rid of the debt. In simpler words, you will be supporting the bank with your hard earned money with gaining nothing of particular value in return. That and a demolished credit history say you really need to pay up in full every single time.
Pay attention to security
Hacks are an occasional occurrence. Ashley Maddison scandal as an example may have only harmed those who were cheating on their second halves, but imagine what will happen if someone breaks into Uber – an app with your card number, expiry date, CVV and other credentials? Always stay safe; better that than sorry.