Do's for Credit Card Usage

Do pay pay off your credit cards monthly if you can. If you pay your whole balance each month, you avoid shelling out hefty interest rates.

First, make sure you plan for needs, with wants in second place. You need the basics, and you want everything else. You can plan your expenses more clearly when you determine the difference.

Speak with the lender if you are having problems with making payments. They can change up your payments to make it easier for you to pay on time. If you can't make your payments in a timely fashion, you will find that you have to pay sky high interest rates and can possibly be denied additional credit.

Unless it is an pinch, staying within your credit limits will help you a great deal. Issuers charge hefty fees for going over your credit line. Personal Finance Books

If you really feel you must, you can ask for higher credit lines and decreased interest rates. Credit card issuers need to keep you as a customer, so they will pay attention.

Don'ts

Do not use your card to make household purchases. The price of convenience can be high, buying these items on credit becomes hugely pricey in the long run. Homeowner's Insurance

Do not just stop at forking over the minimum payment. If you go with the minimum rate, you will end up forking out outrageous interest. The faster you clear your debt, the better off your credit will be.

In closing, do not use your card to buy things you can not afford.  4 Hour Work week Review

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