People who have been using or have used credit cards can attest, in one way or another, know how difficult it is to stay out of debt. In fact, so many people have been carrying debts because of the wrong use of credit cards. While a credit card can be a very useful tool, it can also be a reason to paralyze you financially.

But, it does not stop there. There are plenty of ways by which people can outsmart their credit card companies so that it works for them instead of against them.

If you also own a credit card, here are some tricks you might want to learn.


Never ever carry a balance

This is the most important rule when it comes to using a credit card. As long as you make sure that you pay your bills in full every month and that you pay on time, you will never have to worry about paying for the interest rate. It will even be better if you are able to monitor how much you have been spending. You can register for an online account to your credit card issuer so that you can constantly check your running balance and account information. This way, you will always have a visibility on your expenditures and you can make sure that you will not be spending more than what you can afford. You can also set up an automatic payment so that you do not miss out on a due date.


Keep a clean card

If you have an existing debt with your existing credit card and find it difficult to pay your balance in full, you can try to gradually reduce your debt until you can pay all of it. What you just need to make sure is that you focus on that card first before opening any new accounts. However, if you already have more than one card, make sure you do not add any more additional debts by staying away from additional purchases. If you already have a clean card, make sure you no longer spend more than the amount that you can easily pay in full, especially if these are non-essential purchases.


Take note of your statement closing date

Make sure you are aware of your statement closing date because if you make a purchase a day after the closing of a cycle, you will have another 30 days until the next cycle and 21 days after to pay off your balance. That means you will have plenty of time to save up for what you have purchased using your credit card.


Use the correct card when traveling abroad

When leaving the country, it is important to be aware of the right card to use because there are some credit card companies that charge foreign transaction fees. So if you have plans of traveling, don’t allow your credit card to make a fool of you for not knowing these things. Eliminate these unnecessary charges by contacting your credit card companies ahead.


Learn how to say no

Some credit card companies have certain offers that come with hidden charges, so make sure that before you decide on anything or before you even say yes, you have a complete understanding of all the changes that will take place in your account. Don’t allow them to change the terms that you do not agree to because you have the right to refuse.


Never use a credit for cash

Cash advances are now popular in credit card companies but you must be aware that the issuers charge a fee for these transactions and it is a lot higher than you ever realize.


Get a huge sign-up bonus

If you are spending big using your credit card, chances are you will also be earning plenty of rewards. But you must be wise and creative. Banks are going to do anything to draw you in and attract you. If it is something hard to resist like a big sign-up bonus, you can take advantage of it. Only apply for the cards with exceptional sign-up bonuses so that you can maintain your credit rating.

Don’t forget to talk with one of our talented team members to make sure you have the best rates on your credit card. Calcite Credit Union is here to help!