Being able to borrow money using credit cards is an indispensable resource when you need that extra financial muscle for a purchase. It also helps you build your credit history and rating. That is why is is essential to keep your credit card account in good standing.
Here are important tips and reminders to keep your credit card account in good standing:
- Make your payment every month by the due date on your statement until your balance is paid off.
- Allow enough time for your payment to arrive to your bank on or before the due date on your statement.
- Pay the balance in full over the promotional period, or pay it off early wuthout a pre-payment penalty.
- Remember that you could be charged a late fee if you make a late payment or don’t make one at all. Check your credit card agreement to know these fees.