Be Credit Wise

According to a survey done by the Federal Reserve

, about 40 percent of homes have credit card debt. This article on credit card guide will help you make disciplined and pay the balance in time. Using this guide, you will be able to reap benefits of credit cards, such as cash back, redeem bonus points or airline miles, and may even achieve a good credit score.

Applying for a credit card is only a click away if you are applying for it online. Just quickly fill in an application form and click on the submit button. There is a huge increase in the number of credit card users, but there are hardly any users who know how to use their credit cards wisely and effectively.

Tips And Tricks To Use Credit Cards

There are certain rules that one must follow while using credit cards. Some of them are listed below.

*The balance should be paid off every month. Otherwise, the balance will accumulate, and you will have to pay interest on it. The interest will become higher by the day and lead to more interest accumulation. This credit repair guide will help you get out of this vicious cycle. Late fee on credit cards is usually around $30 or higher.

*It is advisable not to carry more than six cards because this can adversely affect your credit score. This credit card guide also suggests that closing all the extra credit cards at once can lower your credit card score. This credit rating guide counsels you against opening too many department accounts of the stores you visit often, because each department score account that you open reduces your score.

*As a user of credit card services, you should be aware of the terms of agreement by reading them carefully. According to the credit cards guide, a user must know how much interest rate will be charged, the due date of the payment, and the credit limit. You should also be aware how payment is applied for, how the payment and interest paying options can be modified, whether they can be modified or not, and the grace period of your credit card. Credit card companies market the cards in such a way that the hidden terms are not shown to the users. This credit card guide warns the users to be wary of such schemes.

*You should know your credit ranking and then bargain with the credit card company if you have scored well. You can also get the company to drop a late fee. A credit report guide can help you estimate your credit card score.

*You should not exceed 30 percent of your credit limit on each card that you carry. The credit card guide suggests that you should keep a tab on the available credit that you utilize every month. If it is more than the limit, your credit score will decrease.

* You can buy signal-blocking sleeve or use aluminum foil for contactless credit cards.

This credit card guide helps you to become smart on credit card front.

by: wang wu

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