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Credit cards are an excellent tool to have, and when used properly, they can massively help you with your finances. They can help to improve your credit rating, some offer amazing perks and rewards, and most things purchased on your card are covered by buyer protection, so it’s often deemed safer to buy with credit than debit or cash. However, if you don’t use your card correctly, you could risk going into debt and badly hurting your credit score. This could potentially haunt you for decades. If you’re thinking of applying for a credit card, then follow these tips to avoid making any massive mistakes.
Do Look At Your Credit History
These days it’s fairly easy to get a credit card, as long as your credit score and history aren’t in too bad a shape. However, the best rewards, deals, and rates are only usually offered to those who have a good credit score, so it’s always in your best interests to have a look at it before you apply for any type of credit. If your credit score isn’t at its best, then this gives you an opportunity to increase your score before you apply for a card.
Don’t Apply For The First Card You See
A simple Google search can bring up hundreds if not thousands of credit card options, so it’s easy to just apply for the first one that you see and hope for the best. This is the last thing that you want to do, as the first one might not have the best rates. Instead, it makes much more sense to do some research, and visit https://best.creditcard/, and find the best one to suit you. You can also compare rewards when you do this.
Do Change Your Bill Date
These days, credit card issuers usually have no problem with you changing your bill date, so why not try it? If you have trouble remembering when your bill is due, your bill is due a few days before you get paid, or you have another reason, like one of the ones on https://www.nerdwallet.com, then it’s incredibly sensible to head to the credit card website and change the date.
Don’t Miss Your Payments
If you can, always try to make payments when they’re due, rather than a few days later, or missing a payment. If you do miss a payment, this could result in a charge, which can quickly add up, leaving you in a lot of debt. It is also like to affect your credit score, which could stop you buying a home or getting credit in the future. If you know you can’t pay the full bill on time, paying part of it is sometimes enough to avoid a fee and credit score hit.
A credit card is an incredibly sensible thing to have, but only if it’s used sensibly. As long as you follow the tips above and don’t go above your limit, then you should be just fine.