How To Use Credit Cards

How To Use Credit Cards…

One of the best, most important financial lessons I’ve ever learned. Why? Because they impact our every day finances!

Credit Cards help us to manage money… instead of always having to worry about how much money is in your bank account, you can use a credit card for all purchases and then make ONE payment at the end of the month.

In the beginning of establishing and building credit, one may want to start off by using a credit card and paying it off weekly so that they don’t get into debt, essentially using it like a debit card, but instead of it coming out the next day, it comes out at the end of the week. This is another way of not racking up debt and leaning to manage money so you never miss a payment.

Another important benefit that comes from paying weekly or bi-weekly is that you will will never pay interest on your purchases along with always keeping your credit card balances low. By keeping your balances low, you will maintain healthy utilization and that will boost your score!

The last awesome reason to use credit cards is they offer you 100% Fraud Liability Protection – If you didn’t make or authorize the purchase, you are not legally reliable for it. They simply cancel that card (not close the account) and issue you a new card immediately.

The best advice someone could give is to make sure to use credit cards for ALL purchases, then pay off at the end of the week / month depending on your credit limits and how much of it you use.

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