With the increase in the salaries of the working class, obviously there is a tendency for the needs to increase as well. If you are an individual whose job involves extensive travelling and have just got yourself into a marital alliance, then it is important for you to understand the extent of your expenses and sign up for a credit card accordingly.
Most times it has come to the notice that, people dread this plastic cash. But in reality, this plastic cash is not all that dangerous. With prudent and disciplined expenses, you can benefit yourself from the offers that come along with it. All you need to ensure is that you limit your expenses, the number of cards you hold, and also list out and strictly adhere to the cards whose uses have been specified by you.
Again it is not harmful if you hold more than one credit card. It just makes it easier for you to pay your lump sum amounts if the account balance on one card does not hold sufficient balance or if in case a card cannot be used. Holding multiple cards can go awry if you fail to specify their uses for which you had signed up for in the first place. If you have multiple cards, say 3 credit cards, assign one card to official use and the other two for personal use. Doing so, you will be able to claim reimbursement for your expenses that you might have incurred during your travel or stay, if you are employed, without any hassles. If you are an employee who travels a lot, assigning yourself with a co-branded credit card can do you a great deal. Sign up for a co-branded credit card that is linked to an airline since it can help you get credit for the amount that you have used.
If you have just signed up with your first credit card, it is important that you maintain a good credit standing, as it can have an impact on your future credit requirements while signing up for loans, personal loans etc. Therefore it is important that you limit the number of cards to an extent such that you are able to conform to the repayment standards as set up by your credit provider. It is important that you consider the authorized limits, billing cycles, cost associated etc before signing up for the card, If your banker fails to provide you some other related vital information, you can always read through the offer documents of your credit card to understand the complete expenses involved in holding the card.
If you hold credit cards that are linked with certain stores or products, it is best you give up on them since they add very little or no value at all. These cards manage to create a psychological impact and encourage spending among their respective card holders, which is quite unnecessary as it will only increase your financial burden over a period of time.
In order to not lapse on any of your utility bill payment dates, it is advised that you make online payments for all those utility bills that can be paid using this mode. Most online payment service providers provide their uses with the facility of tracking their payments and setting up reminders so that the payments can be made on time. You as a prudent credit card holder need to track the information relating to the payment amounts, payment dates etc.
Above all, it is extremely important for you to keep the credit card slips in order to cross check with your credit statement at the end of the chosen financial period. This will enable you to recognize any unauthorized payments that might have been made.