How do you use your Credit Card?
It is your right to use your credit card however you see fit. There is nobody who will be able to tell you what to do. Not even your credit card company has a say of what you buy and how much you spend; as long as you don’t go over your limit. Of course, this does not mean that you should be reckless with the decisions that you make. The way that you use your credit card is very important.
You probably fit into one of the three categories below. They are based on how often and what types of purchases you make with your credit card:
1. Small purchases. Using your credit card for small purchases, such as gas and groceries, is something that many people do. The problem with this is that small purchases can add up quickly if you are not careful. Make sure you keep track of what you are buying.
2. Big purchases. Do you only use your credit card to make large purchases such as car repairs, big ticket electronics, etc? If you are this type you probably buy everything else with cash.
3. Only for emergencies. Many are well aware of the dangers of credit cards so they only use their plastic for absolute emergencies. For this reason, their credit card may sit dormant for months or maybe even years on end.
Again, you do not have to listen to anybody else. You can use your credit card however you want. That being said, you definitely fit into one of the groups above. Or at the very least, you are a mix of more than one category. Knowing how you use your credit card can make it easier to stay financially safe.
June 26th, 2009 at 7:16 am
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