Tuesday, May 20, 2008

Using Credit Cards wisely

In last few years, credit cards have become common thing in India and large numbers of people are now using credit cards for various spending. The major reason behind the increase in use of credit cards is ease of getting a credit card and freedom of spending on credit. Moreover, people are also finding credit cards very helpful in online buying or in foreign travels. Therefore, credit card is slowly emerging as a good alternative for the hard cash.

However, there are certain worries also which are associated with credit cards and can land people in troubles if they do not control their spending through credit cards. Many time, people land in troubles because they over spend on credit cards without planning how they will pay back. Second, many people using credit cards also do not have proper knowledge about the terms and conditions associated with their credit card and therefore, land in trouble due to lack of information about their credit cards.

For every credit card user, it is very important to get proper information about their credit card like rules, regulations, terms, billing date and due date etc. People are also required to keep in mind that they also have to pay money back spend on credit card, therefore, it is important to have a proper plan for paying money back. People can easily use credit cards for their advantage if they know when to spend and when not to spend with credit cards, for example spending money through credit cards after billing date provides more time for paying back than spending money before billing date.

Credit cards are only present for providing some help in financial matter and not for solving for our credit problems because credit cards can further increase our financial worries if not used properly and land us in more troubles.

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