How to Get the Best out of Your Credit Card

By | September 1, 2015

Credit Card usage can be a good thing, as long as you do it right. Reap the benefits and enjoy the rewards – we’ve got some tried and tested methods. Transform from a novice to an expert in four simple steps.  Read on!

Regularity Is Good
Use your Credit Card regularly. Your goal should be paying off the balance at the end of each month. This provides you with a proven history of being able to handle credit responsibly.

Prove Your Worth
If you do maintain balance on your Credit Card, keep your credit utilization ratio at 30 percent or less. The more of your credit that you use, the less creditworthy you appear to the lender.

Less Isn’t More
If you can’t pay off your Credit Card balance at the end of the month, at the very least pay more than the minimum payment required. The minimum payment you make will only go towards the interest and you’ll be in debt indefinitely.

Within Your Means
Only use your Credit Card as long you can afford to pay back by the end of the month. This enables you to avoid the interest fees otherwise associated with carrying a balance from month to month.

Keeping all this in mind will also impact your credit score positively. This will definitely help you secure bigger loans in the long run. If you feel you’re better equipped to use a Credit Card now, check out our offers.

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