Rules to Live By When Shopping Online With A Credit Card
Online shopping is exciting and handy, if you don’t constantly max out your credit cards and leave yourself with bills you cannot pay off at the end of every month. If you’re an online shopping enthusiast with no financial discipline, follow these tips to avoid debt trouble.
Limit the number of your credit cards you use to one or two
Getting a credit card is the easy part; tracking all of them may be a little more difficult. Choose one or two credit cards that you are familiar with to handle all internet-related transactions.
Stick with the credit card that offers the lowest interest rates
While this may seem like common sense, many do not do this! If you have trouble keeping track of all your credit cards, always shop with the credit card with the lowest interest rates. In case you do not repay your bills on time, at least you will save yourself some interest.
Make use of credit card’s interest free period
It is common for banks not to charge you any interest for a period between 20 to 45 days after the purchase. Try to utilize this limited interest-free facility to repay your outstanding balance in full and on time and avoid interest charges altogether.
Remember, by spending within your limits, you will never let your credit card debt get out of hand!