Smart ways to use your credit card by

Published on February 05, 2019

Top Tips for Using a Credit Card:

Credit cards can be great tools using this Banking Software if used correctly. There are a couple of ways to use credit cards to your advantage, that won’t end up with you overusing them and ending up with too much debt to handle. You can use a credit card to increase your credit score, get rewards for things that you are going to buy anyways, and even get free travel if you are smart about it.

1. Follow the 30% rule. Look at how much credit you have been allowed on your card. No matter if it’s $100, $1,000, $10,000 or $100,000, never use more than 30% at a time. Let’s say for this example that you have a credit limit of $10,000. At one time, you should never have used more than $3,000 of it, without paying it off. By only using 30% of it, you are not allowing your self to get too deep into debt. It’s easy to see a limit of $10,000 and get to spend, but remember that that is NOT your money, so don’t bite off more than you can chew. Bonus, this is a great way to increase your credit score as well, as it shows that you can responsibility control debt. Read more about how to control debt with this Banking Software visiting:

2. Pay them off your cards soon as you can. It is good practice to pay your card off as soon as you can. If you pay your cards off as you go, it will help to avoid getting in over your head. If you see your credit card statement increasing and increasing, it is hard to dig yourself out. Pay it off as you go, and you will avoid making the mistake of letting it collect until it’s too much to handle.

3. Find a card that rewards you. Don’t just use a credit card for the sake of using one. Find a card that rewards you and gives you something back for using it. Whether it’s cashback, miles for flying, or hotels, rewards at certain stores that you use often, get back at least something for the money you spend. If you travel frequently, get rewarded for it. You are going to spend the money, either way, so you might as well get some of it back. Research which card best fits your needs and use that, it’s basically free money for something that you were going to buy anyways. Read more about Banking Software & Credit Cards in

4. Do not use cash advances. While it may seem like a good opportunity to be able to get cash quickly when you need it, read the fine line. Your credit card company is not just giving you a cash advance out of the kindness of their hearts. A cash advance from your credit card comes with high-interest rates and will end up being more trouble than it’s worth. Try to avoid cash advances at all costs, it will save you from wasting more money than necessary.