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TIP! Pay your entire balance every month. If you leave a balance on your card, you'll have to pay finance charges, and interest that you wouldn't pay if you pay everything in full each month.
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TIP! Avoid the temptation to take out loans on your credit cards. It may seem to be the only way to get something paid for, but you must look into other options.
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TIP! Make friends with your credit card issuer. Most major credit card issuers have a Facebook page.
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TIP! Practice sound financial management by only charging purchases that you know you will be able to pay off. Credit cards can be a quick and dangerous way to rack up large amounts of debt that you may not be able to pay off.
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TIP! Do not use your credit card to pay off any tax debt that you have with the Internal Revenue Service. That may be tempting, but it is a much better idea to get in touch with the IRS and let them know that you would like to set up a payment plan.
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TIP! The credit card that you use to make purchases is very important and you should try to use one that has a very small limit. This is good because it will limit the amount of funds that a thief will have access to.
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TIP! Do not close multiple accounts at one time. Close them down slowly, one by one, in order to avoid doing damage to your credit rating.
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TIP! In terms of credit cards, it is critical that you do not let your cards go unpaid. Credit reporting agencies will keep track of your failure to pay credit cards on increments of 30 day, 60 day, 90 day and beyond increments.
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TIP! Schedule automatic payments to your credit card company with your bank. This can help you to ensure that you never miss a credit card payment.
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TIP! When signing up for a credit card, be sure that you check out what all of the penalties are if you miss a payment. This is of great importance because some companies not only will fine you, but they may also permanently increase your APR to an extremely high percentage.
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