July 29, 2021

Credit cards can be great IF used properly. Here are some things to keep in min…


? Credit cards can be great IF used properly. Here are some things to keep in mind when getting a credit card:
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When you are approved for your credit card DON’T look at your credit limit thinking that is how much you have to spend. Try keeping it under 10% of that limit.
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Paying your balance in full prevents you from paying interest each month and that is extra money you could be investing with. ?
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Remember to always pay on time as this highly impacts your credit score. Setting your card on auto pay will save you a financial headache later.
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Now don’t thing that getting approved for a credit card means that now you can finance items you couldn’t afford without it. That $1000 TV you bought with it could end up costing up to $1400 after you finished paying of your card (considering intrests and other possible fees) This ties back to paying the balance in full.
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Do you agree with this? How is your experience with Credit Cards? Let me know below!
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—— Follow: @spacecitymoney for more ——
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⚠️ I am not a financial advisor, the information provided is for educational and/or entertainment purposes only and does not constitute financial, accounting, or legal advice. ⚠️
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