Well, I would like to start off by saying credit cards are a great thing. I know that many of the readers of this article will most likely think I’m an idiot for saying that but it is true and I will be more than happy to explain why. Charge cards have become a way to be able to read a consumers credibility which is a very important thing in today’s market. Charge cards can make or break a persons financial future. Also, without credit cards, if you defaulted on a home loan it would be extremely hard to fix your credit. So I definitely want to start off by saying cards are a great thing for both the people and the lending institutions.
When taking advantage of credit card accounts, there are a few rules of thumb that you should keep in mind I am going to make a list of them and if you go by these rules you will eventually agree with me when I say credit cards are a great thing.
Rule #1: Never buy any item on a charge card that you are not able to pay for cash. This rule is the most crucial and that is why I put it as RULE #1. It’s very simple, if you can not afford an item out of pocket you most likely don’t need it and you really shouldn’t buy it. We all have heard someone running around saying “I don’t know how I’m gonna pay off this charge card”. Well this is how that person ran up all of that debt that they are complaining about! They bought things they didn’t need taking advantage of their credit cards. Please if you refuse to follow any my other credit card rules follow this one.
Rule #2: Never exceed half of your line of credit. Even when you are sure that you can pay the current balance off at the end of the month, you shouldn’t exceed 50% of your credit line. Doing this could hurt your credit report. Not doing it can do nothing but help!
Rule #3: Mail your charge card payment in at least 10 days before the date it is due it is better to send it 15 days before. Even if the mail only takes 3 days to get them the payment it can take longer for the payment to clear. Everyone should follow this practice if they don’t like ridiculous late fees
Rule #4: I am going to end this post with the most simple rule to follow and here it is – IF YOU CAN’T TRUST YOURSELF TO FOLLOW RULES 1-3, YOU SHOULD NOT GET INTO A CREDIT CARD ACCOUNT, PERIOD! Don’t ever put yourself in a situation that will allow you ruin your financial future!
Also, if you feel you can trust yourself to follow these rules, get your credit cards at JemCreditCards.com, they have the best charge cards around!
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