Credit Card's Do's and Don'ts

The do's of owning a credit card is very simple. Only have one credit card and pay it completely when the bill comes in. Then you will have nothing to be scared of and you are creating a good credit report. Take care and good luck.

I was ruined by using the credit card. At the end I had to schedule the monthly EMI for the credit refund, closed my account and now I am a happy chap again. Let me tell you, at start you will say, you would be careful not to use it in such a way that it effects your budget. Suddenly there will be things which have to be bought and thanks to your credit card you were able to buy it. Slowly after a year you get addicted using it everywhere and then comes the tedious takes of planning whole finances to meet the expenses. My simple but powerful advise would be avoid carrying it with you wherever you go. Only in the important situation, like going out of the city, or maybe going to the pub once a while, you should carry the credit card. Next important thing is don't just pay the minimum amount due, because the rest of the amount will keep piling over and over again. The best situation would be just to plan a small percentage of your monthly income for credit card purchases, this way you would be able to curve the buying instinct in yourself. Hope this helps!!!