How to Avoid Poor Credit Card Habits
Have you ever heard people talk about “good” debt vs “bad” debt? Credit cards are a form of debt–you’re borrowing money to pay for things with the understanding that you’ll pay it back on your monthly bill or over time. Your credit card habits determine whether this form of debt is good or bad. Do you know how to avoid poor ones?
Treat It Like a Debit Card
A debit card is a card that allows you to transfer money electronically from one bank account to another. Credit cards function similarly, except that the money the card moves isn’t yours.
If you want your credit card to work for you, however, you should treat the money you spend using your credit card like it is yours. In other words, don’t spend more than you have. Avoid taking cash advances as well, since they tend to come with...