Updated on December 6, 2018
Being able to use credit 24/7 is certainly a good thing to have, but since you can easily end up being addicted to it, it is important that you first consider the pitfalls of using a credit card. If you do not limit your credit spending, chances are high that you will accumulate debts way beyond your repaying capacity. Inability to pay off your credit card debts in time will eventually result in excessive penalties, fines and interest rates, all of which can prove disastrous for your financial health. In the worst case scenario you might have no other option but to file for bankruptcy. All this makes it necessary that you avoid misusing your credit card and start taking steps that might help in mitigating the damage already done.
The most foolproof way of avoiding excessive credit card charges is to opt for a credit card that has the least of the hidden credit card charges such as late payment fines, overdraft fines, balance transfer fees, etc. This would require you to read the fine print of all the offers that you might have short listed depending on your specific needs and requirements. Once you go through the fine print, you will know exactly which offer best fits the bill, something that will make it easier for you to select the most appropriate credit card.
Your troubles however won’t end even after selecting the most suitable credit card because a lot also depends on how you eventually use your credit card. If you overdo your credit usage, even the most cost-effective credit card will fail to provide an escape route from the looming financial disaster. This is why it is necessary that you have a look at your own credit buying habits and check if it matches your repaying capacity. Blaming your credit card company will never solve your problems, especially when it’s you who is solely responsible for your bad financial health.
For avoiding the excessive credit charges and deriving the best possible benefits, you need to shop around a bit and compare the terms and conditions of the available credit card schemes. You can do this easily through product comparison websites that allow you to compare all the different types of available credit card deals based on your own criterions. Just by spending a few minutes on these websites, you will easily be able to locate the deal you might have been looking for all this time. Your bad financial health and credit problems will then be a thing of the past.