Credit Cards

The very first thing that customers must understand is that with the availability of credit cards comes the responsibility of using it wisely. I has to be said that irresponsible spending habits aren’t the sole cause of people getting a bad credit history, but is a significant factor.

We’d like to go into some important points about keeping your credit history intact while holding credit cards. Having more than 3 credit cards is simply not necessary. If you do then we suggest you transfer the balance to the cheapest (i.e. lowest interest rate) card and stop using the rest. This makes payment and tracking easier which helps to keep your credit history intact.

Another thing is to refrain from taking out any sort of cash advances to cover your credit card bills. The costs of cash advances are very high and will more often than not drive your further into debt than previously. If you absolutely must take out cash advances then aim to have it repaid as soon as possible.

One last tip is to always pay off your credit card bills on time. Late payment reflects terribly in your credit history report and should be avoided at all costs. It is recommend that you even document all the payment schedules so that you don’t accidentally miss a payment.

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