There are many reasons that credit cards are helpful to us consumers: they can help establish us as trustworthy borrowers, can earn us lucrative rewards like cash-back or airfare, and can even boost our credit scores, in turn making us more eligible for necessary loans down the road and optimizing our interest rates– all if used the right way, that is. The key with credit cards is to not use them when you don’t have enough money to pay off the balance, but in fact only using them when you DO actually have the money to pay for what you’re purchasing. Many people go about it backwards, thinking, “I want to buy (insert desired service or item here) but I don’t have the cash for it. What to do, what to do… Wait a minute! I have a credit card! I’ll just charge it, and then worry about it later. Problem solved.” Sound familiar? Sound oh-too-familiar? Fear not, friends, because there was an awesome article released yesterday that offers some valuable advice on how to use your credit card to make the most out of it. Here is writer Andrew Moore’s helpful advice:
“Credit cards are almost a necessity during the holiday season. If you purchase gifts online, book air travel or reserve a rental car, you will need to use a credit card. It is important to remember that the responsible use of credit cards has a significant impact on your credit score and your ability to get favorable rates when securing a loan for a home or automobile.
CredAbility shares five common credit card mistakes consumers make during the holiday shopping season: “
Click here if you are human and you own a credit card, because I highly urge you to read the rest of this article!!
I will say it again: if you are a human being, and you own a credit card, do yourself a huge favor and read Andrew Moore’s article. Even if you think you are a pretty savvy credit card user, it never hurts to get a refresher or a reminder about how the game works, and some tips to excel at it.