Well, I would like to start off by saying charge cards are a great thing. I know that many of the readers of this article will probably think I’m an idiot for saying that but it is true and I will be more than happy to tell you why. Credit cards have become a way to be able to read a consumers credibility which is a very important factor in today’s market. Credit cards can make or break your financial future. Also, without credit cards, if you defaulted on a home loan it would be extremely hard to fix your credit. So I definitely want to begin by saying credit are a great thing for both the consumers and the lending institutions.
When utilizing credit card accounts, there are a couple rules of thumb that everyone should keep in mind I am going to make a list of them and if you follow these rules you will eventually agree with me when I say credit cards are a great thing.
Rule #1: Never purchase any thing using a credit card that you can not pay out of pocket. This rule is the absolute most important and that is why I put it as RULE #1. It is very simple, if you can’t afford it out of pocket you more than likely don’t need it and you really shouldn’t buy it. We all have heard someone running around saying “I don’t know how I’m gonna pay off this credit card”. Well this is how that person ran up all of that debt that they are worried about! They purchased items they didn’t need using their credit cards. Please if you refuse to follow any my other charge card rules follow this one.
Rule #2: Do not go over half of your line of credit. Even when you know that you are able to pay the outstanding balance off at the end of the month, you should never exceed 50% of your line of credit. Doing this could harm your credit report. Not doing it can do nothing but help!
Rule #3: Send your charge card payment in at the very least 10 days before the due date it is better to send it 15 days early. Even if the mail only takes 3 days to get them the payment it can take longer for the payment to clear. Everyone should follow this practice if they don’t like ridiculous late fees
Rule #4: I am going to end this article with the easiest rule to go by and here it is - IF YOU CAN NOT TRUST YOURSELF TO GO BY RULES 1-3, YOU SHOULD NOT GET INTO A CHARGE CARD ACCOUNT, PERIOD! Don’t ever put yourself in a situation that will let you ruin your financial future!
Also, if you feel you can trust yourself to follow these rules, get your credit cards at JemCreditCards.com, they have the best credit cards around!
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