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[HarMoney]

5 Tips For Credit Card Users

Most of us use credit cards for convenience. Buy what you want now and pay for it later. There are downfalls to this convenience many new credit card users may not be aware of. Here are 5 tips for credit card users.


1.Try not to carry a balance.

If you don't foresee being able to pay off the purchase fairly soon, think again about the purchase. Credit cards make money from interest on your balances and you lose that money.


2.Pay more than the minimum

When you carry a balance, make large enough payments to pay off the debt timely. The recommended minimum payment extends your payment time which in turn makes the credit cards more money in interest.


3.Do not close your accounts.

You may think the best way to get rid of your credit is by closing your card, however you are losing valuable credit history by doing so. Keep the account open and use it periodically to keep it active.


4.Don't just use the card in order to build rewards.

The rewards may sound great, but it is just a way to entice you to spend more money. Using the card for rewards and continuing to pay a minimum each month, eliminates the value of the reward.


5.Don't pay late or go over the limit

Not to mention fees, paying late or going over the limit can have a significant impact on your credit. Try to avoid these pitfalls by hiring a company like HarMoney www.harmoneybillpay.com to make sure the bill is paid on time.



Bottom line

There are rules to credit and learning these rules early can eliminate seven years of ruined credit. Be a responsible and savvy credit card user, if you choose to use them.



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www.harmoneybillpay.com
contactus@harmoneybillpay.com