Before you even contemplate about owning or getting a credit card, it is always advisable to ask first the bank or credit card issuer about its credit card products. Make sure that you become aware of the limit, credit charges, membership fees, finance charges, late charges, cut-off dates, due dates, how you will pay them, can it be used as a discount card, does it have promotions or rewards or rebates, etc.
Here are things you need to know when planning to apply for a credit card: – Try to communicated with the bank officer and know fully the credit terms of your agreement – Read the fine print of the agreement and application form before you even apply for a credit card.
It is always best to compare credit card products not only by one card issuer but by other banks as well. This will allow you to discover more about which banks offers the product that best suits your needs.
Make sure that you read the fine print of the agreement or application before you affix your signature to these papers. The gist of this legal information about the card is written there and once you sign your signature you are legally bound by the terms of the bank.
- Always set a portion of your take-home pay for emergencies.
Remember the story of the ant that saved for the rainy day? No need to elaborate on this one. Just always practice setting aside a percentage of your take-home pay to savings. Worry and headaches will be kept at bay if you know you have a little security in terms of savings in the bank.
- Come up with a monthly budget for charges or spending and abide by it.
Most of us, particularly the women, are the weekend or monthly grocers. Limit your purchase to the budget of spending you’ve set aside for that particular week or month. So when payday comes, you can pay your credit in full for that spending.
- Shop with your credit card like you are shopping using your disposable cash.
Nothing compares to the good feeling brought by window shopping and feasting your eyes on everything that’s beautiful in the mall. You come across a nice little pink dress that seems to say “buy me now or tomorrow I won’t be here” constantly. Well, don’t give in to the hypnotism that is usually happening during mall sales or you’ll end up coming home with a truckload of items you don’t have any use for and will eventually clutter your attic. Be a sensible shopper. Think before you buy.