Credit cards have become such a standard part of how many of us manage money that we can use them without thinking about it.
In the UK, the Money Charity has shared that the average household has £2,485 in credit card debt. While credit cards can be handy tools for short-term spending needs, it’s important to know how to get the most out of them and avoid being sucked in by tempting rewards.
Salary Finance has shared the top 5 things you need to know about credit cards:
- Paying off the minimum payment each month is not enough
- Having, and using, a credit card isn’t necessary for a good credit score
- Watch how much of your credit card limit you use
- Credit card interest rates aren’t fixed
- Credit card rewards can make you spend more
Read the full article here.
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