Keep Your Limit Low
When you apply for a credit card, the lender sets a credit limit which is the amount they are willing to loan you based on your income and repayment history. If you’ve had a credit card for a while or a newbie most lenders are more than happy to increase your limit if you ask. This is because ‘the higher your limit, the higher your interest payments when you max out your limit’. Avoid temptation by not spending to your limit and keeping tight reigns on the limit increases.
That pile of charges
Most of us know that all the financial services come with certain charges; credit cards are not something different from the lot. The common charges imposed are annual charges and various payment charges. Although these charges go mostly unnoticed by the users since it is at a very low cost, the total sum of a year might affect your finance. Thus having clear knowledge about the charges will help you to use the card more carefully.
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