Charlotte, N.C. (PRWEB) December 7, 2007
With the holiday season in full swing, it's easy to spend more than you should. Credit cards are just one way that people can overextend themselves. But used wisely, they can be a great tool. Learning how to properly use a credit card can help prevent unwanted debt, especially as we start the New Year.
Here are some helpful tips on how to use credit cards the right way:
- Start with just one. It's easy to let your spending get out of control when you have access to many credit cards. Instead, start small. Opt for just one credit card until you have established good credit habits.
- Watch the due date. It's important to pay your credit card bill on time. Not only can a late payment hurt your credit rating, it can also end up costing you more. If you carry a balance from month to month, you may be charged interest, which only adds to the total amount you owe.
- Build a credit history. When used properly, credit cards can help you build a strong credit history that will enable you to get additional loans down the road. Using a credit card for only necessary expenses (like gas) over discretionary spending (like clothing) will help you build excellent credit, while at the same time keeping your spending in check.
- Stay within your limit. Just because you can charge a certain amount to your credit card doesn't mean you should. Look at your monthly income and expenses to determine how much you can afford to spend each month. Then be sure to not charge over that amount.
For more tips on how to use credit cards wisely, please visit the LendingTree Smart Borrowing Center.
About LendingTree, LLC:
LendingTree, LLC is the nation's number one online lending exchange, providing a marketplace that connects consumers with multiple lenders that compete for their business. Since inception, LendingTree has facilitated more than 23 million loan requests and $185 billion in closed loan transactions. LendingTree provides access to mortgages and refinance loans, home equity loans/lines of credit, auto loans, personal loans, credit cards and high-yield savings accounts via http://www.lendingtree.com and 800-555-TREE.
Launched in 1998 with headquarters in Charlotte, North Carolina, LendingTree, LLC also owns and operates LendingTree Loans sm, LendingTree Settlement Services, LLC, GetSmart®, and HomeLoanCenter.com. LendingTree, LLC is an operating company of IAC.