(December 2, 2016 at 8:28 pm)Tonus Wrote:(December 2, 2016 at 8:16 pm)Shell B Wrote: It goes without saying that when you have a credit card, you should pay off the balance every month, on time, every time. Interest on outstanding credit card balances is no joke.
This might be the most important one. Credit card interest rates are usually in the 15% to 30% range, and the 15% are usually an introductory rate. That is INSANE. Even with what seems like a 'manageable' balance you could be paying thousands a year for the privilege of being in debt.
Like Shell said, get a card that offers cash back and pay the full balance every month. A cash back card is useless if you're carrying a balance. They 'give back' 1% while you 'give back' 25%. That doesn't quite work in your favor...
110% this, though Tibby actually typed out that part, as I forgot to mention our credit cards. I pay ours off several times throughout the month, just tossing money on whenever the balance goes up.
