Tips On Running A Credit Card Account

If you run a credit card account, then do you run it well? The best running of a credit account for the individual is the least convenient for the bank or card provider as they make no money from it!

So here's what you should do to run the account well.

Crucial : log your purchases over the course of each month. That way you know exactly what you have and what you have spent.

Budget what you spend, within your credit limit. If you have a limit of 1000 a month doesn't mean you have to spend it!

Tip: set a limit at half your credit limit for each month unless very large purchases come along that are on a one off basis.

The most important element of all is this: PAY OFF YOUR BILL IN FULL EACH MONTH.

As soon as you cannot pay it off in full, the interest kicks in and you will end up having to pay much more money back than you borrow.

So what you should ensure is that you know what you are spending, then pay the bill in full on time. Remember that many are attracted just to pay the minimum back each month, but this is bad news overall for your bank account.