Tips on managing your credit cards

Credit Card Debt Tips

It’s easy to fall into the credit card trap.  A dinner here, new purse there… before you know it, you’ve racked up hundreds, maybe thousands of dollars onto your credit card.  Here are some tips to avoid credit card issues.

• Avoid getting a credit card altogether.  Simple – just don’t get one
• Pay off the monthly balance in full each month. This will avoid having to pay the minimum payment that includes interest.
• Sign up for automatic payment from your bank account. Keeping track of payments is a must going this route to ensure funds are available.
• Avoid cash advances. Interest charges will apply and you want to avoid adding interest to the principal loan.
• Always check your monthly statement to ensure it is accurate.
• Check your credit report each year. This report will reflect your financial history and stability. It is like a report card showing how you are doing financially. Banks will check a credit report before loaning funds. It is a good idea to be responsible with personal finances from the start so when the time eventually comes to request a car loan or mortgage, you are in good shape from the banks perspective.

If you are in debt, see some of our personal debt relief services.