General Rules To Follow In The Process Of Utilizing Charge Cards.

March 5, 2010 FTS No comments

Well, I would like to start by saying charge cards are a great thing. I know that many of the readers of this article will most likely think I’m an ignorant man for saying that but it is true and I will be more than happy to explain why. Charge cards have become a way to be able to see a consumers credibility which is a very important factor in today’s market. Charge cards can make or break a persons financial future. Also, without charge cards, if you defaulted on a mortgage it would be extremely hard to fix your credit. So I definitely want to start by saying credit are a great thing for both the people and the lending institutions.

When utilizing charge card accounts, there are a few rules of thumb that everyone should follow I am going to make a list of them and if you go by these rules you will eventually agree with me when I say credit cards are a great thing.

Rule #1: Never buy any item using a charge card that you are not able to pay for cash. This rule is the most crucial and that is why I put it as RULE #1. It is very easy, if you can not afford something out of pocket you more than likely don’t need it and you definitely shouldn’t buy it. We all have heard a person running around saying “I don’t know how I’m gonna pay off this charge card”. Well this is how that person ran up all of that debt that they are worried about! They bought items they didn’t need taking advantage of their credit cards. Please if you don’t follow any of my other charge card rules follow this one.

Rule #2: Never go over half of your line of credit. Even when you know that you are able to pay the outstanding balance off at the end of the month, you shouldn’t exceed 50% of your line of credit. Doing this could hurt your credit score. Not doing it can do nothing but help!

Rule #3: Send every charge card payment in at the very least 10 days before the date it is due it is better to send it 15 days early. Even if the mail only takes 3 days to get them the payment it can take longer for the payment to clear. You should follow this practice if they don’t like ridiculous late penalty charges

Rule #4: I am going to end this post with the most simple rule to go by and here it is – IF YOU CAN NOT TRUST YOURSELF TO FOLLOW RULES 1-3, YOU SHOULD NOT GET INTO A CHARGE CARD ACCOUNT, PERIOD! Do not ever put yourself in a situation that will let you ruin your financial future!

Also, if you feel you can trust yourself to follow these rules, get your credit cards at JemCreditCards.com, they have the best chargecards around!

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