Find The Right Credit Card For You

by James Hendrickson on June 6, 2017 · 0 comments

visa-957187_640Choosing From Many Options

Credit cards can actually be a source of income if you’re smart enough to capitalize on available awards; but you must be somewhat fastidious to make that work, and you must be sure to pay back what you owe as quickly as possible. Many students get credit cards which they’re approved for regardless of credit.

As a student, you can have a great deal of comfort by running up expenses on a credit card, but you’re going to have to “pay the piper”, as the saying goes, sooner or later. It doesn’t matter how good your credit is going in, you’ve got to pay back what you owe. Now there are those who get creative with pay-back solutions, but be careful.

Don’t Outsmart Yourself

You may think to yourself: well, why can’t I just use one credit card to pay off the other, and vice versa? The answer is that you’re not actually getting rid of the debt when you do that. If you secured a Visa card and used that to pay off your Mastercard, then you’ve just transferred the debt to the other card.

The debt doesn’t diminish, it just gets larger and larger as you switch it from one card to the other. Eventually, you may end up bringing a third or fourth card into the mix. You can keep bouncing the debt around, but it won’t go away. As a matter of fact, accrued interest applies after a while, and then the debt gets really bad.

No, you want to be strategic. You want to think this out. When it comes to managing money, the best advice is to live beneath your means, and when you do get a loan, pay it back as soon as humanly possible. And, believe it or not, there are credit card offers available which don’t have built-in interest.

When you’re looking for no interest credit card offers, Offers.CreditCard points out that: “Without positive credit on your report, it’s difficult to get a credit card, rent an apartment, or do anything else that could potentially help your score.” If you’re going to get a no interest card, you’ll have a better chance with good credit. Not paying owed debt impacts credit.

Consolidated Variety

However, if you’ve got all the credit card options available to you on a single site, then it’s very easy for you to find what solutions your personal credit puts within your reach. Additionally, sometimes there is that which is considered “good” debt. Usually it pertains to payments that are regularly paid off on time, and don’t move to “default” status.

That being said, again, avoiding debt wherever possible is recommendable. So when you’ve got all that in mind, finding a no interest credit card that offers cashback on purchases can end up making you money. You may even be able to make up to $600 a year through such options. Seven years of smart purchasing could get net a decent car.

There are quite a few possibilities out there, and provided you’re able to balance your checkbook or otherwise keep a good bead on your personal finances, you will be able to increase your financial situation substantively and successfully. The key is not being swooned by the siren song of satiating desire.

Everybody wants to have the finest blankets, furniture, pictures, homes, cars, foods, and creature comforts. But…you don’t really need any of that. All you need is a few thousand calories, water, and somewhere to sleep safely. Live threadbare long enough and you can build up potential financial energy that will yield profit.

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