* Limit the number of credit cards you carry based on your needs and payment capability(recommend a maximum of two cards only)
* Shop online only with trusted websites.
* Pay before the due date to avoid late payment and penalty charges
* Pay the amount due in full when you get your monthly statements to avoid interest charges. know the consequences of paying only the minimum amount.
* If you have a cash flow problem, pay the minimum amount for a start and work towards paying the full amount as soon as possible.
* Avoid using your credit card if you cannot make the monthly payments.
* Do not use your credit card to get cash advances from an ATM. Remember, each time you use your credit card to withdraw money, you are increasing your loan commitments in addition to paying upfront withdrawal charges and daily interest.
* Always check your credit card monthly statements to ensure proper transactions and charges are recorded. These statements will detail all your transactions, including fees and charges, payment due dates and the minimum payment. Call your bank if there are discrepancies in your statements or if you have not received one.
No comments:
Post a Comment