We often hear that credit is a bad thing. When this topic arises, it generally involves all forms of credit, especially credit cards. Well, the simple truth is that the world is probably not going to see an end to the issuance and use of credit. Along with that truth comes another one. It is often possible to use credit to save money.

Imagine going into a store and finding that there is an incredible sale going on and it is a one day only sale. There are some things that you really need and were planning on buying when you got your next paycheck. You do not have the cash available nor do you have the money in the bank. You do have your credit card with you though. Because of this you are able to buy all of the things you need. By taking advantage of the clearance prices and using your credit card, you saved a whopping seventy-five percent. Now all you have to do is make a credit card payment when you get your next check. Of course, it is imperative that you do go ahead and make the payment. If you do not, you will accrue interest and counteract your savings. This defeats the whole purpose.

There are some valuable rewards programs attached to credit cards these days, including cash incentives. If possible use this card for purchases and pay off the balance each month. When the time comes, get your cash reward. Do not pass go…head straight to the bank with it and deposit it in your savings account.

If you get an offer for zero percent interest balance transfers from a credit card company you should use it. You can transfer from one to the other and play the game as long as you can find new offers. This will save you oodles of interest if you are one of those credit card holders who carry a balance from month to month.

It must be said that there are times when not having credit can really cost you, especially if you do not have cash either. This generally happens when you are not able to take advantage of special deals and offers.

On the other hand, if credit is too tempting for you to handle responsibly it can do you more harm than good. When dealing with credit, you have to know yourself pretty well. The idea is to make credit work for you rather than against you. To find more information, contact us at Debt Fix.

…© 2009 Angelia Hoffman