Do you always get that itch to buy anything you see when you're in a shopping mall? That pressured feeling of wanting it so bad which almost translates to the thought of you killing anyone who'd dare get in your way of having it. Many of us can surely relate and many of us too would attest that owning multiple credit cards paired with an impulsive shopping behavior only means one thing, a big trouble in your expenses.
A credit card is similar to a double-edged sword – it can either help or harm you, depending on how you handle it. Here are three easy-to-remember ways to get the most out of your expenses with a credit card.
- Don't own more than two credit cards. Owning a credit card translates to a big accountability. It requires time and effort to keep track of your spending and your payment due dates. If you own multiple credit cards and aimlessly use them, there's a great probability that you'll start losing track of your spending. Learn to say no even when “complimentary” credit cards start coming through the mail.
- Use a card that offers rewards program. By doing this, you're able to get something back from all the money you spend. Rewards programs are very sophisticated nowadays. You can get everything from iPod shuffles to free flights on top airlines. Get the card whose rewards program is most relevant to your lifestyle.
- Hands off in using the card to get a cash advance. The cash advance feature should only be used during extreme emergencies, since the interest rate on this is a lot higher than taking out an actual short-term loan from the bank.
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