How To Use Credit Card Properly Without Damaging Your Credit Score

Dr Watson Goh By Dr Watson Goh, 11th Apr 2011 | Follow this author | RSS Feed | Short URL
Posted in Wikinut>Money>Credit Cards

During my younger day immediately after getting my degree and my first job, I also got hold of my first taste of credit cards usage. The ease and "power" that these cards make me ride the cloud for about one year (with an average card limit of 5000 dollars multiply by about 10 cards = a total of about 50,000 liquid cash on my call to spend) During that time, I am everyone best friends especially the opposite sex.

How To Use Credit Card In A Safe Way

During my younger day immediately after getting my degree and my first job, I also got hold of my first taste of credit cards usage. The ease and "power" that these cards make me ride the cloud for about one year (with an average card limit of 5000 dollars multiply by about 10 cards = a total of about 50,000 liquid cash on my call to spend) During that time, I am everyone best friends especially the opposite sex.

Unfortunately, after one year, I deteriorate from riding the cloud to crawling in the mud. I was a total mess, credit wise. The nightmare started when the banks and their appointed debt collectors come a calling. Begin young and a credit idiot, I simply ignore them thinking that the problems at hand will just conveniencely disappear. That off course, did not happen and in the mean time, the debt started to grow bigger and bigger and the 24% annual credit card interest simply compound the problem even larger. I was seriously comtempting running away from home to hide from the problem. Subsequently when my parents found out about my trouble I gotten into, they with deeply sadden and unwilling hearts (having to part with their 40+ years of retirement saving) pay off all my credit card bills.

From that moment onwards, I become very aware that the amount of hurt I have caused my parents is totally unnecessary and pledged to myself, that I will never ever be in that kind of suituation again. As such, I started to research into the various methods of proper usage of credit cards. Below are just some of the key points to ponder around.


Checking your credit score/report/FICO score regularly is a must. On, you can get a free credit report from different bureau such as Experian, Equifax and TransUnion, yearly. Also, get your report from a different credit bureau every four months, instead of just ordering them all at once. By doing so, for a whole year, you can actually monitor your report for a whole full year.

Reading such report is not like reading a book. Key points to look out for include checking for error entry, identify theft, wrongly entered credit debts, etc.

Also, be very sure about how much credit card balances are on each of your cards. Always be on a look out for extra interest charges and the rates that is being used for such calculation. Used modern day technology to assist you in your checking process, like through iphone, ipad, etc.


If you wishes to be free from credit card debts, one of the key criteria is to be able to maintain an organised credit life. One key advantages of paying in full every month is that you will know very clearly where you stand in terms with credit card balances. The goal is to pay off the balance every month. There is TOTALLY NO negotiation on this issue.

You must slowing built up your self-discipline to stop spending when you reach your budgeted limit. If after three months, your history keeps showing that you are not begin able to pay in full each month, then DO NOT USED THEM. Not using them does not make you a lesser person, instead pat yourself on the back for begin honest. Most successful people whom managed their money well, knows exactly what their strength and weaknesses is and then make them accordingly.


Making used of the offered rewards whenever you make used of the credit card is one of the best way to "leveraged" your finance. Just think, spending $XXX will get you a $XX rewards or gifts. However, like I always mentioned eariler, remember to pay off all your bills in FULL EVERY MONTH. That is because rewards cards usually come with higher interest rates attached. If you carry a balance, you not only negate the benefit, you lose money


Not tracking your credit card expenses will get you sleepness night worrying over these credit card bills. Therefore, like most people, upon receiving the monthly statement, you will most probably faint or suffer deep anxiety. However, a highly effective user of credit card user will NEVER EVER BE SURPRISE by his statement. And because he / she is always paying off in full every month plus his constant tracking of expenses, everything in the statement is well within his control and knowledge and he / she is fine with it, as it is just another mail.

Read Credit Card Bills and Disclosure Statements

Effective user always open up their statement immediately without any delay, scan through all the entries making sure the charges are legitimate. Any discrepancies they spotted, he/she will get onto the phone immediately. Nowaday, it is also advisable to read all the disclosure statements you receive. With the credit card legislation still being phased in, credit card issuers can be very creative in their fees fixing.


Credibility, Credit, Credit Account, Credit Card, Credit Card Civil Cases, Credit Card Debt, Credit Card Debt Collectors Philippines, Credit Card Payments, Credit Cards, Credit Crd Handling, Credit Crunch, Credit Debt Help, Credit Repair, Credit Report, Credit Score, Credit Scores

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author avatar Dr Watson Goh
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author avatar johnmartin
5th Sep 2012 (#)

Credit card is a good facility for us but we should understand it’s value and we should use it very sensibly, otherwise we may face any big debt problem, because credit card companies charge very high, if you withdraw cash through credit or make delay payments.

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author avatar Jamma
15th Oct 2012 (#)

credit card is an option which can allow you to gt instant cash advance to fill your cash crunch.

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