Are your credit card mistakes the driving force behind your direct payday loan problems? Do you find yourself taking out more than three payday loans each year? Having to use the online fast money option too often is a clear signal that something is wrong in your budget. What could be going wrong with your credit cards which are leading your debt into controlling your finances? If you find yourself making any of these 5 credit card errors, you will want to make some fast corrections to keep yourself out of hurting your finances further. Cash advance online are a big help, but they do not solve deeper debt problems.
- Credit cards make shopping easy. Do you keep track of how much you are purchasing with plastic? It is amazing how fast even the littlest costs can add up to a big bill for the following month. Do you know when your statement begins and ends? If you are one of those people who are surprised at how much was spent the month before, you will want to pay closer attention to how often and how much you use your card. keep a small notebook in your purse or car so you can keep track of all your credit card purchases. Check your statement for the dates and keep track every period of how much you spend. You will be able to regulate your next bill when you see the actual total spent to be charged on the card. A good solution to this is to give yourself an allowance for incidentals. Pay cash for all of it and when it is gone, it is gone.
- A big mistake is signing up for the first card offered. Just like you would want to shop around for the best cash advance online interest rate, you will want to do the same with credit cards. Some companies will offer deals that sound great but in all the excitement for the new line of credit, nobody paid attention to the fine print. Eventually sign on programs end and there is a hike in interest. Some credit cards charge an annual user fee. There are so many free credit cards available you may not want to be spending extra money on the additional fee. Interest charges each month are enough.
- The rewards program sounds great, but will you really use it? Will you spend extra money on your card in order to earn the points? By the time you pay off your balance, you may have spent a whole lot more for that reward than if you had just purchased it yourself. With any reward’s program or credit card in general, read the terms and policies you will be expected to follow. This is strongly suggested for online payday loans as well. Knowing what is expected of you and what kinds of fees you will be facing may help you make better decisions for financial assistance.
- If you don’t pay your credit cards on time, you will have a finance charge added to your balance. You may pay it a day late, but that fee will stay. If this is a rare occurrence for you and you have been with the credit card company a long time, a phone call may get the charge removed, but don’t count on it. pay the amount as soon as you can to help prevent a negative report on your credit score. If you are habitually late, the credit card company will report you.
- You have a balance limit of $1000, so you spend it. Just because it is there, it doesn’t mean you need to use it all. The credit bureaus like to see you use less than 30% of the available balance. Not spending too much or paying it off each month will show that you handle your finances properly which will give you a higher score. Direct payday loan amounts are not recorded on your credit report. Because they are to be paid off in such a short time span, online payday loans are not reported.
Payday loans online do not solve debt problems.
When paychecks never seem to be enough to cover all your expenses, you will want to dig even deeper into your budget problem. Just because you have the buying power of credit cards or finding a cash advance online, you do not have to use them. Living beyond your means is one of the worst habits found in this country. Pay attentions to where your money goes, your future finances depends on it.
