Afraid of Having Credit Card Problems?
Credit card ownership can be a double-edged sword that benefits you. On the one hand, credit cards make it easy to make multiple financial transactions with just one swipe. Especially if you are very busy, pay bills, go shopping to booking a flight for a business trip can be done in a flash. Everything is in my hands.
But on the other hand, many people are even trapped by all of these facilities, leading to debt loops. While true credit cards are very useful when used wisely and appropriately, there are a few mistakes to avoid if you want to be ‘safe’ when using them.
Don’t Want to Get Credit Card Issues? Try to avoid the following
Take care and avoid the following if you want to avoid any problems caused by credit card fraud. Anything?
1. Loves Cash With Credit Card
Avoid the habit of withdrawing cash via credit card. You know, there’s a big flower to bear if you do this.
Withdrawing cash with a credit card is as different as using a debit card. Debit cards contain your own money. While the cash you withdraw with a credit card comes from the lender bank. That’s why you’ll be charged a bigger interest in your shopping transactions.
Once, twice, it might not matter much. But don’t make it a habit. Avoid withdrawing cash with credit cards as much as possible. Remember the interest you pay will be greater. Does that mean? The debt is huge too.
2. Likes to Pay the Accuracy of Pay Time
Don’t waste time paying your credit card bills. Stop the habit of delaying paying bills. Try to be disciplined and timely. The reason is, the later you pay, the fines you will have to pay as well.
Avoid this and don’t pay the bill at the end of your due date. This is useful for keeping in mind and not paying too late for being too busy. If you want to be safe, you can pay your credit card bill as soon as you receive your paycheck.
3. Original Swipe and Blink your eyes
Use your credit card only to meet your most important needs. If you really don’t need it, don’t use it. Instead of just starving your eyes and looking at the good stuff, you are instantly in control and out of control. Be disciplined in shopping transactions.
If you have carefully measured and calculated all of your needs, you will avoid any regrets over the cost of goods that you do not really need.
Set a monthly usage limit. Also note every transaction that occurred. If you think your credit card usage is over and over, just keep it at home and don’t carry it. Be self-disciplined for the sake of your financial health.
4. Don’t take advantage of Existing Deals and Rewards
For those of you who regularly deal with credit cards, banks usually offer some rewards such as cashback, discounts or other attractive deals that will benefit you. Don’t miss it and ignore it. Be diligent in checking the latest information. Take advantage of the rewards for you, who knows you can buy what you need at a much cheaper price.
5. Just Want To Collect Credit Card Only
As long as you can afford it, it’s only right that you have a lot of credit cards. However, collecting various credit cards is not a smart and smart way to manage your finances. Especially if one of those credit cards doesn’t really need you. It’s just like losing yourself. Why? Because you still have to pay the required annual dues. But you didn’t use it to the fullest.
In other words, having a lot of credit cards is just like the more bills you have to pay. You have yet to remember when each credit card’s due date is due. Because of this, paying your credit card charges will only result in fines.
Since you want to be careful about managing your finances, you shouldn’t be overwhelmed by unrestrained spending. For financial security, limit your credit card ownership immediately.
6. Only Make Minimum Payment Only
Many people are mistaken about this. Paying the minimum payment won’t ease your credit card bill. In fact, this is one of the most recent mistakes. Instead of decreasing, your debt balance will likely increase due to the increased interest rate.
Remember, the interest charged is calculated on the day of the delay and is multiplied by the fixed interest each month. This interest will be calculated by your outstanding debt balance. If you do not pay the next month, the interest will continue to increase. This is certainly not a good financial plan for anyone.
7. Pay for Medical Care with a Credit Card
None of us want to get sick. But life is full of unexpected things that can happen, including illnesses. While these conditions may include urgency, try not to use a credit card to fund your medical care.
It is risky to assume that medical expenses cannot be estimated. Not to mention if you can’t pay the due date. The burden is even heavier. As an alternative, use an insurance service instead of using a credit card.
Credit Card Usage Recovery
These are some of the fatal mistakes that must be avoided in order to avoid credit card issues. Keep in mind that this error often occurs because some people feel they have done what was right and have never been wrong. However, it doesn’t hurt to fix the mistake that may have taken place next to avoid it. Be disciplined and careful about using a credit card so you can get the most out of this one. Good luck to you always.