Once you have that thin rectangular piece of plastic, you already feel that you have the license to shop till you drop. While this experience may be fun in some instances, people tend to forget that they have to pay for it. One great shopping trip can then turn into a horrible regrettable event. Not only will this lead you to a great amount of debt, it also wreaks havoc on your credit score.
If you want to maintain a good credit score, it’s advisable to avoid late payments as much as possible. If late payment is your form of habit, get ready to kiss your 3 digit credit score goodbye? How can one pay on time then? Monitor your purchases.
What’s worse than late payments? Missed payments, of course! Forgetting to pay their credit card dues will lead to late payment fees. Some companies even issue high interest rates for missed payments. And so, the solution for this problem is the same as the one listed above: monitor your purchases. Exercise self-control as well. If you need to prioritize on gas and other necessities, then don’t think about buying Chanel. Wait for the time when you’ve organized your budget and expenses. Once you have paid your debts, you can then allow yourself a much deserved treat (in moderation, of course).
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