Smart Credit Card Management and Good Spending Habits

Nowadays nearly everybody has one or more credit cards. Credit cards offer much convenience. Credit cards are an asset when you have good spending habits. Good spending habits mean you plan your expenses in advance, and you stick to your budget no matter what. Smart credit card management and good spending habits go hand in hand.

Pay your credit card bills on time.

Avoid unnecessary charges and fees, wherever possible.

Understand how finance charges are calculated to save your money.

Pay attention to any Notice of Change in Terms arriving with your monthly statement, and read it carefully.

Read your monthly statement carefully. Contact the card issuer immediately when you notice any discrepancy or incorrect charges.

If you pay your credit card bill by check, make sure it will not bounce, or you may be charged a returned check fee.

When you apply for a credit card, find out if the card issuer will charge a fee every time you check your balance through the customer toll free number. If there is a charge, check your balance online instead.

When you apply for a credit card, read carefully the terms and conditions that come with the offer; especially, watch out for teaser rates (extremely low introductory rates for a short period only).

If necessary, use a secured credit card to establish or rebuild your credit record.

Above all, smart credit card management requires selection of a smart credit card.

Stephen Lau
Smart Credit Smart Money