Things to Know About Staying Out of Debt with a Credit Card
Everyone always assumes that a credit card is a great thing to have. However getting into debt with a credit card is a very easy thing to do. People tend to think they can do anything with a credit card and pay it back later. Which technically is true, but they don’t stop and think about the percentage rates that come with paying back on a credit card, or the charges for late payments. Also included are the penalties your credit history will take which can stay with you for years and hurt your chances of getting loans in the future.
There are many things you can do to avoid these problems first, only use the card in emergencies, such as if you are out on a road trip and you run out of gas. Always be sure to pay your bill every month on time. Try to pay more than just the minimum if you can to get a little ahead. This will also reflect good on your credit history. It will show that you always pay your debts and that you pay them on time.
When looking for a good credit card, try to find one that has the lowest APR possible. The lower the rate you can find the better you will be and the less you will have to pay extra for on top of what you actually use. Do not go shopping just because you have a credit card. Be smart with it and use it only when you need to. Once in a while buying something is ok; just try not to go overboard.
Shopping thrift is a good way to help keep you out of debt. Always look for bargains when you shop. The lower the prices the less you will be spending and the less you will have to pay back each month. It all comes down to mainly avoiding any unnecessary expenses and paying your bills on time. Also being a smart shopper helps when it comes to staying out of credit card debt.
If all else fails cut up that credit card pay off what you owe and stay as far away as you can. If your one of those people that have plastic and feel you just have to use it then this method is the best: Just walk away and say no to plastic.