When you apply for a credit card, fill out the application with the knowledge that you will absolutely be paying your bills off at the end of every single month. Don't even entertain the idea of making payments and accruing interest.
The trouble many people have is that they view a credit card as invisible money, readily available at any time. This isn't "free money," and just because your name is on a plastic card doesn't make it "your" money! It can be a rude awakening when you get the credit card statement at the end of the month and find the charges and interest, to boot.
By paying off your bill at the end of every month, you can qualify for bonuses, and afford a card with no annual fee. Of course, it's also prudent to research and find a card with the least amount of interest.
Before signing on the dotted line, you need to check out the answers to these questions.
How much is the annual fee, if there is one?
If you're late with a payment, how much will you be charged?
What is the annual percentage rate? Is it fixed or will it change after a time?
Will you be charged for transferring balances to another card?
If you go over your credit limit, how much is charged as a penalty?
Interest payments aren't the only extra fees you could pay when maintaining a credit card. Be sure to send in your bill at least seven days before your due date, if paying by mail. If it doesn't arrive on time, you may be assessed a hefty late fee.
If paying online, make sure you know the company's "cut-off" for processing payments during the business week. Typically it's 1:00pm EST, but make sure you know your card issuer's timeline. If you need a reminder, set one on your PDA or calendar-just don't miss that due date!
If you're willing to pay your bills off at the end of the month and send in your payments early, you'll find managing your credit finances a walk in the park.
Kazuyuki Omino http://bestcreditcardindex.com/
About the Author
Kazuyuki Omino has been online since 1995 when I was in the US (Boston). I created Japanese celebrity info site and health-related site in 2001. Those websites became popular. So I appeared on the radio show and internet magazines to talk about my websites in Japan (I came back to Japan in 1996 after 6 years of staying in the US). Now I'm creating some other niche information websites for fun and profits.