Do Not Accumulate Credit Card Debt- Credit Card Tips UAE
‘Accumulate wealth and not debt’. Well, we all are rational beings and no one intends to accumulate debt deliberately. But life’s pressures and pleasures push us into debt and then we wonder what happened. But a little caution and care can help us in the long run.
When it comes to credit cards, we need to be very careful. Always remember that when you are swiping your credit card, you are using borrowed money. You need to return it in time or else you will have to pay an interest. Credit cards companies allow you to make part/minimum payment on your credit card. This feature is mouth watering,convincing us to buy whatever we want. But this feature has put many a innocent souls into debt spirals.
The interest keeps compounding on your outstanding balance on your credit card bill.
Always pay your credit card bill in full every month. Every month ear mark part of your income equivalent to your outstanding credit card bill and pay it in full. This way, you will have used the loan facility, utilized the perks which come with credit cards without any cost on your part.