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How to Use Credit Cards to Your Advantage

How to Use Credit Cards to Your Advantage

The advice you get from some finance blogs is to use extreme measures to avoid running up credit card debt. They may suggest things such as cutting up your credit cards or placing them in a container of water and freezing them to prevent you from using them – at least until they thaw. But I know that credit cards can be used to your advantage if you are able to use them with self control. Like anything else, they are a tool. It’s you that determines if they will be an asset or detriment to your finances. Here are some ways you can use credit cards to your advantage. Pay Your Balance off Each Month Don’t run your credit card balance up so high you can’t pay it off each month. Doing so will allow you to eliminate paying interest on your balance and giving away your hard earned money to credit card companies for free. In addition, you potentially have the ability to use that same money to earn interest for yourself for the same time period. If you aren’t able to pay the balance each month, always make the minimum payment and make a larger payment whenever possible. ...

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