Credit cards are very popular among people today as they offer flexible payment options. They offer the convenience of not carrying the cash. However, you need to use them wisely by limiting the number of times you use, because with each use, you are borrowing money that you have to repay. If you are unable to repay the amount on time, the creditor will charge you with a high interest for late payments, which may lead you to heavy debt.

1. Seven Smart Ways to Use Your Credit Card Wisely
Website: http://moneychutney.com/category/reduce-debt

2. Credit cards are very popular among people
today as they offer flexible payment options.
They offer the convenience of not carrying the
cash. However, you need to use them wisely by
limiting the number of times you use, because
with each use, you are borrowing money that
you have to repay. If you are unable to repay the
amount on time, the creditor will charge you
with a high interest for late payments, which
may lead you to heavy debt.

3. If you don't want to get into any such financial
troubles, here are smart tips to use your credit
card wisely:
1. Always repay your credit card due on time: It
helps you avoid higher interest or late payment
fees that you have to pay when you delay the
payment.

4. 2. Stay within your limit: Use your credit card
sensibly. Keep a close watch on your spending and
track it. See that you don't spend beyond your
credit limit. If you do so, it will burden you with
additional debt.
3. Pay more than the minimum limit: When you
have a good amount of surplus, make sure to repay
the full amount that is due, in that month, instead
of paying the minimum amount. It will help you
avoid being charged with late payment or default
fees or penalty rate.

5. 4. Don't apply for another credit card: Think
carefully before you take another one. Multiple
cards with improper usage would result in bad
credit score. You will be in trouble, when you are
unable to clear off the bills. It is therefore, better to
have only one.
5. Review your credit card statement every month:
Register to receive monthly statements online. The
statement mentions the due date, the late payment
fee or penalty rate, in case the payment is received
late. It gives overall status of your credit payment.

6. 6. Don't opt for higher credit limit: If you opt for a
higher credit limit, you may end up spending more
than you can repay. You will not be able to afford to
pay the monthly credit card bills as you have
already spent beyond your budget.
7. Don't use your credit card for impulsive
purchases: If you are an impulsive spender, stay
away from credit cards. They encourage you to
spend whenever you want, even if you are not
carrying cash and unknowingly you will get into
debt.

7. If you repay your credit card bills on time, it will
reflect a positive transaction on your credit
report and helps you build a good credit score.
With a good credit score, you may get low-
interest loans and various offers in future. It can
really work better for you, when you use it
wisely by cultivating sensible spending habits.

8. Money Chutney provides insightful articles on
saving, investing, budgeting and financial
planning. These articles are intended to provide
knowledge and make people aware of methods
and techniques on personal finance, so they can
use it to better their financial situation. These
personal finance strategies are targeted towards
educated middle class people in India, who
typically look for information on how to save
money.

9. Website: http://moneychutney.com