a credit card can be the ultimate frenemy for most people
Miami, FL (PRWEB) May 11, 2015
National Debt Relief recently shared in an article published May 4, 2015 how consumers can use their credit card better by knowing the expense items that should not be part of a credit card statement. The article titled “The Things You Should And Shouldn’t Put On A Credit Card” shares some of the items that are better paid outside card use.
The article starts off by explaining how a credit card can be the ultimate frenemy for most people. That little piece of plastic that symbolizes pre-approved short term-loan from lenders can be an awful enemy or a good friend. Abuse it and it turns into a nightmare but use it properly and it helps consumers with short term and even long term financial goals.
The article shares two secrets in keeping the credit card a dear old good friend. One is to use the card sensibly while the second is understanding what not to put in the card. These two seems simple enough and self-explanatory but a lot of people often overlook these two things and end up in trouble with their credit cards.
Sensible use of a credit card usually means that a consumer would need to keep their card balance low including paying it off in full at the end of every month. There is no hard and fast rule on what a low balance should be because it differs from one consumer to another. A $1,000 balance may be low for one household while $10,000 might be acceptable for another.
The article also stresses the fact that there are specific expenses that should not be paid for with a credit card. The first of which would be college tuition or commonly known as cost of attendance. Apart from better rates and repayment plans with the federal lending, using credit card can have added fees on top of the already expensive college cost.
Another one would be charging up vacation trips on a credit card because after consumers enjoy the trip, they come home to huge monthly statements on their card. To read the full article, click this link: http://www.nationaldebtrelief.com/the-things-you-should-and-shouldnt-put-on-a-credit-card/