Undoubtedly, use of credit cards makes life easier but if you are careless, it can affect your finances adversely.
Having a credit card in your pocket makes you forget about worries of not possessing adequate money for making purchases as most businesses accept credit cards. Statistical data reveals that the debt of an average American family as a result of using credit cards is about $1500.
Despite all the benefits of credit card, it is a cause of worry for lots of Americans. Other than brining your finances down, it is liable to be used for getting your personal information and pilfering your identity. Above all, credit card is a massive responsibility, and should be used as such.
Here is a list of some of the very important dos and don’ts of utilizing credit cards:
The Dos of using a credit card
• Immediately sign the card on receiving it and do go through the fine print.
• Use 0% interest schemes and cash-back/reward points.
• Keep multiple cards, depending on your spending habits.
• On handing over your card to a cashier or waiter, keep a close watch on your card till it is returned.