Posts Tagged ‘to make money’

Credit Card Use

Monday, August 3rd, 2015

For years, conventional wisdom was financial "credit cards are evil." We were told that the reduction of our credit cards is the only way to get rid of the debt. He said people needed "to live by their own means", and if credit cards are used, must be "only in the case of an emergency." This "wisdom" turned out to be not only false but harmful. The truth is that credit cards are our friends. They are our allies in building credit. How easy is it to qualify for a loan to the house when you've never even had a credit card? Responsible use of the cards show potential lenders that you are able to manage their finances. What's more, an intelligent user uses them to obtain loans without interest. To get the most out of your credit cards need to use them, and do it often. If you have two cards with $ 500 limit, it may be that after of every month has been used up.

Use one of them to pay recurring monthly bills (cable, cell phone, car insurance, etc.), And use the other for fuel and grocery shopping. If you have cards with much higher limits, say $ 5,000 or $ 10,000, then probably not a good idea to use each month as possible, but should use their credit cards as much as possible, and pay in full each month. For example, say you have a bill of $ 90 per cable, cell phone $ 110 and $ 150 on car insurance expires on the 15th of each month and an additional expenditure of $ 165 paid into the month. That would be making payments on 4, 11, 18 and 25. That would be a total of $ 515. But therein lies the usefulness of the case: your credit card company sends your statement on day 1, but does not require payment until the 15th. This means that charges $ 515, some of which date back to the third working day above, should not be started until the 15th of next month. Since only pay interest on the unpaid portion of your monthly balance, this represents a month and a half interest-free loan!


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