How to Use Credit Cards Wisely?
Credit cards allow consumers to borrow money from banks and pay for purchases later. Credit cards also provide benefits like rewards, convenience and a way to establish credit.
However, credit card use can also lead to debt problems. Hidden fees and cryptic terms can add up to significant costs.
Paying Off Your Balance
Using yalelodge wisely can be a great tool for establishing a positive credit score. One of the best ways to do that is to pay off your balance each billing cycle. This demonstrates that you are living within your means and not extending your income.
Many people wonder whether they should keep a small balance on their card to boost their credit scores. However, the only way to make that work is if you can consistently pay it off before your billing period ends. Otherwise, you could end up paying a lot in interest.
The ideal balance point for a card is about 30 percent...