分类： 其他平台
2013-10-12 18:25:11
Having said that, with creditso easily obtainable, as well as the downward movements of our economy, credit has become a system that is very much abused.
A large number of Americans just don't realize how to use credit correctly and make it work to their benefit. Unfortunately, that sometimes leads to people using credit for items that do nothing but damage their credit scores. Like the saying goes, "The road to hell is paved with good intentions." Not knowing how your credit decisions can impact you could harm your financial position significantly.
If you have a credit card, there are a few things you have to consider to help use it for what it was designed for improving your credit score.
Never use your credit card for pulling cash out of the ATM.
Think you need that cash ASAP? Think again. Usually when you use your credit card to get cash out of the ATM, you're being charged twice. You're charged once for your ATM fee, and again with all the interest on your credit card. The reality is, many people don't understand that credit card cash withdrawals are usually not eligible for interestfree periods. Therefore you start out getting billed interest from day one. In addition, you're very likely to get charged a greater interest rate on cash advances than on ordinary purchases. Your $100 dollar cash advance rapidly spirals into a substantially higher amount. If you have another option, it's most likely far better to get the funds you want a different way.
Simply say NO to retail credit cards.
The attraction of saving 10% 15% off your purchase can be quite a strong one. How many times are you presented this sort of discount for your purchase at a retail store when you get their store credit card? Have you paused to think why they are really pushing these deals if it's such a "savings" available for you? Let's break it down.
If you're late with a payment or pay just the minimum amount, the interest rate of retail store credit cards can be substantially higher than regular credit cards. Retail stores send promotions and offers to get you to shell out more at their store. Often, you'll just put it on your card and keep accruing debt. Keep in mind that it affects your credit if your balance exceeds 30% of your credit limit.
Finally, your credit score is dependent upon active credit. If you get a card at a store that you don't frequent, you're not delivering good credit history and therefore the credit card becomes a liability. The better option is to pass on the offer of "savings" and, if you really need to purchase something on credit, use a nonstorespecific card instead.
Don't incur more debt by using credit cards to pay bills.
When it comes right down to it, having to pay a bill o n your credit card is going to do a lot more to damage your credit than it will to present the help you seek. The issue is, you're not really paying anything at all. You're simply moving your debt from the company the bill is from to your credit card company. That isn't solving any issues. Not only are you not decreasing the debt, you're incurring new debt from your interest on the new balance. Additionally you must be careful that shifting your debt from one location to another doesn't boost your balance to over 30% of your credit limit. Credit cards should be used to improve credit, but only on things that improve your financial and personal worth not things that greatly reduce it with added charges.
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