Tips for Using Your Credit Card Correctly – FICO Credit Score
Credit card has become a part of our daily life. In addition to the convenience it provides in our shopping, the extra advantages it brings, it is also a payment tool that we may experience serious problems if we do not pay attention to its use correctly. Today we will talk about the credit systems and bank working methods. By following these tips and information steps you can draw a better financial life for you. We will start with card using tips from below. Here the most important tips for bank card using solutions. When you follow these steps you will definitely get relax. Card using is not easy like it seems. Do you wonder more? Details below now.
1- Extend your feet according to your income
When you decide to use a card, you must first set the limit. Don’t accept a card limit that will push your income far beyond your needs. If your limit is still set higher than your income, make your purchases according to your income, not your card limit. This item, which is one of the biggest mistakes made in the use of card, will be the first factor in your serious problems with your card. Don’t spend your expenses with the logic of “I have a card anyway”. Trusting your card limit often results in frustration. So, shop by thinking your budget detailed in your mind.
2- Minimum card payment amount is a good idea?
You may think that you do your minimum card payments regularly, but realities are different. So how long will these minimum payments handle you? Consider these questions and choose your card according to your budget. Then be sure to make your payments regularly. The minimum amount you pay each month will leave you with a large amount of debt after 4-5 months. Isn’t there a way out of this debt? Of course there is, you can also close your debts with the consumer loan you will use from your card bank. However, you will still have to pay regularly. If your debt is doubled in the following months due to the minimum amount, close your debt by using a general purpose loan and make your remaining payments just in time and pay your full monthly payment.
Credit Card Using Methods and Recommendations
3- Benefit from card features
Do you know which features of the card you use? For example, is it a card that gives you travel miles? Or can you collect additional points for your purchases? Each of these features will help you a lot in your card usage. For example, if you travel frequently by plane, the type of card you use is important. The fact that your card gives you flight miles will give you an advantage and discount on your next flights. On the other hand, a card that allows you to make payments after a few months may be a good idea. Or a card that earns points on every purchase will greatly relax your budget. Another suggestion is that the decision you make when choosing a card affects your process of use. A bank card that you choose according to your budget or social life will give you great advantages.
4- If you have multiple Cards
The number of cards used in the world is increasing day by day. Moreover, the number of people using a single card is quite low. Consumers who try to cover their debts with more than one card are at a considerable level. What should be done to avoid problems? If you have more than one card, you should first pay attention to the account cut dates. The first thing you will do is to make sure that your card’s account cut dates are different. This allows you to make payments between your cards and minimize any problems you may have. If you use multiple cards, be sure to set different account cut dates.
Learn Credit Score for Free With FICO Credit Score
Fico score system is the best way to learn your score for free. In USA and Canada millions of people use the FICO score system to plan their financial budgets. In this system, your personal information is collected and stored. During your all financial life, FICO bank system records your financial past and when you want to apply a credit or a bank card, Fico score decide your credit future. There are different levels on the FICO system and according to these score levels you get your credit products or cards from your bank. FICO score system is one of the most used score systems in the world and it is very trustable.
How to Learn Credit Score For Free with FICO or Bank Apply?
You can learn your score with 2 way:
1- Via the FICO credit system, you can easily learn your financial score. Thanks to this secure and trustable system you can watch your all financial past via the internet connection within minutes.
2- Banks all around the world also provide your score information for free. All you need to do is being a customer of a bank and apply to bank for learning your score. Bank staff will definitely help you about this subject. All you need to do is going a bank.
3- Or you can calculate your score manually according to your payments. This method is little bit risky but if you paid your bank card payments, bills and bank products regularly, there will be no problem about your score. So you can be withdraw the amount that you need from your bank. Of course your monthly income still very important.
We publish many of different and useful article about the financial sector. By reading these articles you can stay updated. You can see the other Fico score articles and credit themed articles on our web site easily. Always the best and true info only on our web site. For more information about the bank products and credits, stay tuned here and keep us following daily.