5 credit card mistakes to avoid
Unwise or irresponsible use of a credit card can wreak havoc on your finances, especially if you commit these potentially costly errors.
VIDEO ON MSN MONEY
None of these are anything innovative or new. I personally believe the best credit cards are the ones you cut in half.
And yes..........I do use a credit card, but I pay it off before the interest sets in.
I know not everyone can do that. :(
I think a debit card is cool...you have the mone
y for thing,s and that,s it.....
A credit card is much safer than a debit. A debit card is a direct link to your bank account and there is no limit spending on it, if someone gets a hold of it they can clean out your bank account and hard earned money. A credit card is a third party or a different line of account which has a monthly spending limit, if it gets stolen your bank money will still be safe and if you act fast enough to report it stolen then it wont cost you anything. I would choose a credit card over a debit any day because its more secure, even if I have to pay interest for it.
But it goes without saying cash is by far the safest way to do transactions to prevent theft.
And your American Express is way too large
Get a loan on your Visa Card
And pay it off with your Master Charge
There are no 5 mistakes...there's 1 mistake...haveing a credit card in the first place.
This is a banks dream...to make you pay to use your money...GENIUS...for them
STUPID ...for you
Credit cards can be a trap. I want to close one but if I do my credit will take a hit. So I purchase small things on it every month and pay it off immediately (the balance is no more than $10).
My other Amex (Starwood) I use for the free trips. I try to keep the balance as close to zero as possible. It gets difficult because its "easy" to swipe...and this is not even for shopping. This is for daily expenses (Groceries, utiliy bills, cable etc). It can easily run to almost $1000 a month. It gets paid off but Im trying to get to a point where I dont need it. Which is just a matter of timing (the bills are due before the paycheck).
Copyright © 2014 Microsoft. All rights reserved.
Fundamental company data and historical chart data provided by Morningstar Inc. Real-time index quotes and delayed quotes supplied by Morningstar Inc. Quotes delayed by up to 15 minutes, except where indicated otherwise. Fund summary, fund performance and dividend data provided by Morningstar Inc. Analyst recommendations provided by Zacks Investment Research. StockScouter data provided by Verus Analytics. IPO data provided by Hoover's Inc. Index membership data provided by Morningstar Inc.
RECENT ARTICLES ON CREDIT SCORES
The Fed's latest statement confirms that it won't be coming to the rescue of depositors soon, but these institutions are worth following anyway.