For most people, payday is a time to celebrate and reserve their hard-earned money for bill payments for future expenses like food and clothing. However, there are some people who have accrued such high credit card debts that most of the salaries they receive immediately go to paying their credit card dues. If you wish to have a credit card or struggling with the one you have, read on:
Preparing to Get Your Own Credit Card
Applying for a credit card is actually pretty straightforward, but it all depends on your financial or credit standing. So before sending an application for a credit card, take time to go to your bank and request for your credit rating. After that, you need to develop an attitude for responsibly using your credit card only for important expenses and to pay your credit bill on time.
Is Having a Credit Really Good for You
Before proceeding with your application, reconsider whether having a credit card is really to your advantage, or are there any better options for you, such as getting a debit card instead. Note that the most common problem with having a credit card is many users think of their credit limit as “cash they can spend” rather than cash that the bank can loan them.
Which Credit Card is Right for You
While generally all credit cards are the same, most credit cards vary in detail and so some cards may be better suited to your way of spending. There are banks that offer an annual repeal fee, while there are also banks that have partnered with other establishments, while others still have incremental points the more you use their credit card.
Your Credit Card and Modern Living
The main advantage of using a credit card is it allows you to spend without the bulk and risk of carrying large amounts of cash with you. And credit cards are even becoming ever more convenient, especially now that many banks are merging credit cards with online payments, such as with MasterPass, PayLah, Pay Anyone and Dash. This is even more pertinent here in Singapore as we are the top digital payers in Southeast Asia.